In several countries, allowing for some positive bias in popular inflation measures, zero inflation itself is now close to being the status quo. That is a great accomplishment in its own right. But its full benefits will not be grasped unless we recognize it as a stepping-stone towards something even better.
Meet the Author
George A. Selgin
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Volume 12, No. 1 (2009) In a free market economy from which fiduciary media are excluded, economic progress will be limited, perhaps severely, by the high cost and correspondingly limited supply of...
Not long ago, many economists were convinced that monetary policy should aim at achieving "full employment." Those who looked upon monetary expansion as a way to eradicate almost all unemployment...
Here is my piece on this Ron Paul idea in the Christian Science Monitor: Since it was introduced in February, Representative Ron Paul’s “Audit the Fed” bill (H.R. 1207) has gained 282 congressional...
References
Institute of Economic Affairs, 1997