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Deflation: What Happens When Prices Fall
Deflation is one of the most feared terms in economics. It immediately conjures visions of abandoned farms and idle factories, streams of unemployed workers standing in breadlines. So when Federal Reserve Board Chairman Alan Greenspan started talking openly in 2003 about his fears of deflation, it sent waves of shock through the business press and the public. Many feared t ...more
Hardcover, 228 pages
Published May 14th 2004 by HarperBusiness
(first published May 1st 2004)
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(showing 1-30 of 51)
Not bad. Published in 2003, and focused on the aftermath of .com. Provides a decent non-technical illustration of the monetary policy cause and effect of modern economic peaks and valleys. Hindsight tells us that Farrell's opinion of real estate growth and the derivatives market -- that it they are a good bet, that they are signs of healthful innovation in an epoch of falling prices -- bombs along with everyone else's expectations in 2007. but he has little to say about the effect of a credit co ...more
A very interesting read. Like most people of the last couple of generations, I was more or less ignorant of how prevalent deflation has been in the history of the U.S. economy. This book gives a very good history of deflation along with a very good overview of how improvements in technology are often linked to deflation and labor displacements. I wish I shared Farrell's belief that all we need to do is spend more money on education and training we can offset the losses of good jobs to offshoring ...more