What Deflation?
At the risk of committing the solecism of quoting myself (AEIOU, for those who understand!), in this context, I wrote in yesterday’s Cap
At the risk of committing the solecism of quoting myself (AEIOU, for those who understand!), in this context, I wrote in yesterday’s Cap
“But economists don’t know accurately where the natural rate is, so how can the market?”
Posted by Ilana MercerThe major point in Austrian Business Cycle Theory (ABCT) that Phelps examines is that it