Friday, October 16, 2009

Deflation and Liberty

Currently, the vast majority of the world's Keynesian economic "gurus", all of whom failed to spot the greatest depression in history, are pushing the hilarious line that we should all be terrified of the boogie-bear of "deflation".

Of course, AngloAustria wonders why the entire 19th century in both the UK and the US, which saw the greatest economic growth in the whole of human history, was marked by a hundred years of almost continuous deflation, give or take the odd statist war.

But Jörg Guido Hülsmann absolutely nails this fantastical mass-inflationary boogie-bear in the following brilliant PDF. Read it and weep:


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