Less Than Zero: The Case for a Falling Price Level in a Growing Economy

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Institute of Economic Affairs, 1997 - Business & Economics - 81 pages
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This book sets out to explain the complexity of why increased production does not that always bring with it lower prices. According to the book, those who look upon monetary expansion as a way to eradicate almost all unemployment fail to appreciate that persistent unemployment is a non-monetary or 'natural' economic condition, which no mount of monetary medicine can cure. Selgin explores the differences between these monetary and natural conditions, and proposes solutions of his own.

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Contents

Contents Foreword Professor Colin Robinson
5
Conclusion 70
26
Real and Nominal Income and Prices
52
Copyright

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