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The deflation in the late 19th century wasn't caused by contraction in money supply, though. It was caused by a huge increase in productivity. It's hard to comp
by djur 13y ago
The deflation in the late 19th century wasn't caused by contraction in money supply, though. It was caused by a huge increase in productivity. It's hard to compare that with contractionary monetary policy.
- JackFr 13y agoThe repeal of the Silver Purchase Act was pure deflationary monetary policy.