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A comment on Restaurant prices in the 19th and 20th centuries (2009). Parent comment

Re:Restaurant prices in the 19th and 20th centuries (2009) by ProjectArcturis on Saturday July 31, 2021 @11:53PM (#28023671)
It's not that inflation was impossible. It's that periods of inflation were offset by periods of grinding deflation depressions.
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Re:Restaurant prices in the 19th and 20th centuries (2009) by runeks on Sunday August 01, 2021 @03:53AM (#28024607)
There’s no connection between falling prices and depression. At least that’s what Milton Friedman concluded in A Monetary History of the United States, even though he initially assumed there would be.
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Re:Restaurant prices in the 19th and 20th centuries (2009) by ProjectArcturis on Sunday August 01, 2021 @10:16AM (#28026377)
Well, Friedman says inflation is driven by the money supply, which is partly true. But it's also true that a shrinking money supply is associated with both deflation and recession/depression.
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