There’s probably a good reason the vast majority of economists agree that deflation is bad for this exact reason. It’s not just my opinion - I’m not an economist and I doubt you’re either.
Economists are pretty famous for fighting amongst themselves. The vast majority of economists don’t agree on anything with each other.
The loudest economists tend to agree with each other. The ones whose views and supported policies happen to result in more wealth being funneled to capital holders. For some reason those people are the ones who get interviews on TV and articles published by major outlets. I wonder why that could be?
I’m not saying every “indie” economist on the Internet is valid as there’s plenty of bad ones too. But the idea that deflation is terrible certainly deserves scrutiny. Just look around… Is the populace happy with the results of the current systems and policies?
To quote one of the most famous economists, Hayek, “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design”
Knowing that something will cost less in the future does affect consumer behaviour in a negative way. That’s how it’s relevant.
That’s a gross oversimplification of consumer behavior. Consumers react differently to market changes for different types of goods.
There’s probably a good reason the vast majority of economists agree that deflation is bad for this exact reason. It’s not just my opinion - I’m not an economist and I doubt you’re either.
Economists are pretty famous for fighting amongst themselves. The vast majority of economists don’t agree on anything with each other.
The loudest economists tend to agree with each other. The ones whose views and supported policies happen to result in more wealth being funneled to capital holders. For some reason those people are the ones who get interviews on TV and articles published by major outlets. I wonder why that could be?
I’m not saying every “indie” economist on the Internet is valid as there’s plenty of bad ones too. But the idea that deflation is terrible certainly deserves scrutiny. Just look around… Is the populace happy with the results of the current systems and policies?
To quote one of the most famous economists, Hayek, “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design”