Monday, August 01, 2005

The Economist: Austrian school provides the best explanation

New blog post at the Mises blog.


Blogger grouch said...

That's a great article. Gary Shilling's been talking about that 4 years. His book "deflation" spells it out.
The craziest thing is, in all the aging countries, they desperately need "good" deflation to allow their elders
to live on fixed incomes. Yet the central banks will do everything in their power to deflate the purchasing power of their currencies.

I believe economists should reverse how they talk to the public about inflation/deflation.
They should be clear that it is the value of their money that is deflating. The goods(assuming their the same over time)remain the same :no change.
Of course this would put the spot light on the Central Banker Cartel.
As it should.

4:47 AM  

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