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In defense of deflation [electronic resource] / Philipp Bagus.

9783319134284 electronic book
3319134280 electronic book
9783319134277

Cham : Springer, 2015.

English

1 online resource (xvii, 215 pages) : illustrations.

10.1007/978-3-319-13428-4 doi

HG229 .B34 2015eb

332.4/1

This book analyses the causes and consequences of deflation. In contrast to the widespread believe that deflation would be harmful to the economy as a whole, the author argues that free market deflation is liberating and beneficial. Several myths of deflation are exposed and the reasons for the widespread deflation phobia that serves to justify expansionary monetary policy, i.e., inflation are investigated. Two historical case studies, the growth deflation in the US after the Civil War and the bank credit deflation in Germany during the Great Depression are discussed to illustrate the points made in the theoretical analysis of deflation.

Includes bibliographical references and indexes.

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Online resource; title from PDF title page (SpringerLink, viewed January 13, 2015).

Financial and monetary policy studies ; volume 41.

Print version: 9783319134277

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