Aviation / Economics / History / Warfare

Aggregate Demand Dominance: MIC and the Death of the Deflation Ratchet

The Utter Failure and Stupidity of the Gold and Silver Standards: Part 5 Over a series of posts, I’ve come to refer to the gold standard’s “mean reversion” tendency as the deflation ratchet; a mechanism that especially afflicted the world economy during the 1873-1890s Long Depression and the 1926-1933 run-up and descent into the Great … Continue reading