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Societies for the History of Economics

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Societies for the History of Economics <[log in to unmask]>
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Scot Stradley <[log in to unmask]>
Date:
Fri, 6 Mar 2009 19:21:41 -0500
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Societies for the History of Economics <[log in to unmask]>
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Inflation is a rise in the general price level, not an increase in 
any particular thing.  Deflation is a decline in the average price 
level.  Inflation decreases the purchasing power of money and 
deflation increases it.

The rate of interest is not a price.  It is the discount rate, or the 
average of the population's preference for goods now versus goods later.

Scot Stradley

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