BrownBingb at aol.com
Tue Jan 21 10:43:58 MST 2003
Charles B: I believe progressive economists hold that deflation is actually
ultimately bad for the working class , too, ( like inflation) but I wonder if
Michael Perelman or somebody could give a brief reiteration of why it is. I
know how depression/recession is bad for workers, but why are drops in prices
bad ? Wasn't stagflation worse than recession + prices falling ?
Also, isn't the term "inflation" sometimes used to refer to an economic
expansion , not just a general price rise ? I believe Mark Jones uses it
From: Louis Proyect <lnp3 at panix.com>
Subject: Deflationary pressures?
NY Times Business Section, Jan. 19, 2003
A Sinking Feeling at the Register
By DAVID LEONHARDT
ONE year ago, a 50-inch Hitachi television cost $1,400 at Circuit City. It
costs $1,000 today.
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