To quote Minsky (1986) on current models, “A theory that denies what is happening can happen, sees unfavorable events as the work of evil outside forces (such as the oil crisis) rather than as the result of characteristics of the economic mechanism, may satisfy the politicians' need for a villain or scapegoat, but such a theory offers no useful guide to a solution of the … Thus I've decided to stop wasting my time with “gold is money, deflation is not that bad”-crowd.
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Schools of Economic Thought – Nuclear Phynance
Guest Post: The Case Against Deflation | Zero Hedge
Japan was also in the grip of Keynesians and they stimulated like crazy but they still got deflation over decades, what makes you think it will work here when personal and business credit is not expanding…can the gov really …
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Guest Post: The Case Against Deflation | Zero Hedge