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Less than Zero: The Case for a Falling Price Level in a Growing Economy

  • Less Then Zero by George Selgin
March 16, 2010

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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.

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References

Institute of Economic Affairs, 1997