- Analyses and explains the consequences of price deflation
- Exposes the myths about deflation and explains the reasons for the deflation phobia
- Offers a new interpretation of the US deflation in the second half of the 19th century and the German deflation during the Great Depression
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- About this book
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This book analyses the causes and consequences of deflation. In contrast to the widespread belief that deflation would be harmful to the economy as a whole, the author argues that free market deflation is liberating and beneficial. Several myths of deflation are exposed and the reasons for the widespread deflation phobia that serves to justify expansionary monetary policy, i.e., inflation are investigated. Two historical case studies, the growth deflation in the US after the Civil War and the bank credit deflation in Germany during the Great Depression are discussed to illustrate the points made in the theoretical analysis of deflation.
- Table of contents (6 chapters)
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Introduction
Pages 1-4
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Economic Theories of Deflation
Pages 5-33
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Causes of Deflation
Pages 35-83
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Consequences and Myths Concerning Deflation
Pages 85-117
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Two Historical Examples of Deflation
Pages 119-189
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Table of contents (6 chapters)
- Download Preface 1 PDF (118.9 KB)
- Download Sample pages 2 PDF (532.4 KB)
- Download Table of contents PDF (115.4 KB)
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Bibliographic Information
- Bibliographic Information
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- Book Title
- In Defense of Deflation
- Authors
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- Philipp Bagus
- Series Title
- Financial and Monetary Policy Studies
- Series Volume
- 41
- Copyright
- 2015
- Publisher
- Springer International Publishing
- Copyright Holder
- Springer International Publishing Switzerland
- eBook ISBN
- 978-3-319-13428-4
- DOI
- 10.1007/978-3-319-13428-4
- Hardcover ISBN
- 978-3-319-13427-7
- Softcover ISBN
- 978-3-319-36676-0
- Series ISSN
- 0921-8580
- Edition Number
- 1
- Number of Pages
- XVII, 215
- Number of Illustrations
- 14 b/w illustrations
- Topics
