Mises Wire
Author:
Frank Hollenbeck
Online Publish Date:
in the standard of living for everyone. Two of the greatest periods of GDP growth in the US, 1820 to 1850 and 1865 to 1900, had deflations of 50%. Deflation the equity of the existing distribution of wealth. Many in the lower rungs of the economic ladder blame their declining real incomes, and other inequities, on