> But what conditions made deflation and growth possible together in the 1920s? They didn’t go together, the chart shows two severe episodes of deflation, one

> But what conditions made deflation and growth possible together in the 1920s? They didn’t go together, the chart shows two severe episodes of deflation, one of which was the Great Depression, and the other was this: https://en.m.wikipedia.org/wiki/Depression_of_1920%E2%80%931921 https://en.m.wikipedia.org/wiki/Depression_of_1920%E2%80%931... It’s not clear why the chart lumps them into one period.