michael at ecst.csuchico.edu
Tue Jan 21 11:32:52 MST 2003
Charles, deflation in itself is not particularly bad, however the
conditions that create deflation also lead to serious economic implosions,
which create massive unemployment.
On Tue, Jan 21, 2003 at 12:43:58PM -0500, Charles Brown wrote:
> 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 ?
California State University
Chico, CA 95929
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