Mises Wire
Author:
Neema Parvini
Online Publish Date:
Since Irving Fisher and John Maynard Keynes were writing in the 1930s, there have been two prevailing orthodoxies in mainstream economics: 1. That deflation is an unalloyed negative. 2. That consumer-led economic growth must be our top economic priority. In this article, using British macroeconomic data from the nineteenth, twentieth, and