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.