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To: pater tenebrarum who wrote (40718)6/19/2000 9:30:00 PM
From: BGR  Read Replies (3) | Respond to of 42523
 
if a price deflation due to productivity growth were to occur, we should happily accept it. why do you think we have to have inflation?

Because mild inflation is better for motivation that wild deflation. Nothing to be happy about there at all. Even in times of high inflation, people are happy to get a raise just matching inflation. Whereas in times of deflation, people are really unwilling to take a salary cut. Read some Thaler, don't just read charts.