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A comment on In Fed and Out, Many Now Think Inflation Helps. Parent comment

Re:In Fed and Out, Many Now Think Inflation Helps by eli_gottlieb on Monday October 28, 2013 @06:38AM (#6626191)
>In a free market prices generally fall.

If we take the far-right Austrian definition of "free market" (meaning: a market in which the only functions of government are property and contract enforcement) then we have zero empirical evidence for much anything about free markets.

They've never existed.

Further, we don't even have solid evidence that hypothetical markets of that kind would be Pareto-optimal. They serve literally no function except that of ideology.

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Re:In Fed and Out, Many Now Think Inflation Helps by jswinghammer on Monday October 28, 2013 @07:05AM (#6626253)
19th century America is close enough and the results astounded the entire world.
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Re:In Fed and Out, Many Now Think Inflation Helps by eli_gottlieb on Monday October 28, 2013 @07:52AM (#6626374)
19th century America was a rabid, rampant employer of slavery, indentured servitude, and debt peonage. And when it comes to it, 20th century America was far more impressive.
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