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
View George A. Selgin bio and works
Monetary economist George Selgin agrees with Bob on the flaws with MMT, but then the two continue their debate (started at the Soho Forum) on fractional reserve free banking.
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...
Recorded at the Mises Circle at Furman University on November 13th, 2010. PPT
References
Institute of Economic Affairs, 1997