Yeah the deflationary death spiral. Although the deflation of prices is usually the symptom of economic crisis rather than the cause. I saw a chart of the purchasing power of a dollar across the 20th century, and the peak was during the Great Depression.
There it is.
I love how economists can say this and also say that capitalism is the best system possible in the same breath
they’re just priests
We never moved past reading tea leaves
(all this shit definitely isn’t made up btw)
Yeah the deflationary death spiral. Although the deflation of prices is usually the symptom of economic crisis rather than the cause. I saw a chart of the purchasing power of a dollar across the 20th century, and the peak was during the Great Depression.