10.2, Future Currency Changes

Conditions that make further depreciation of the currency and inflation in prices more likely than future appreciation of the currency and deflation in prices more likely. In the Depression of 1920-21, brought about by the rapid reorganization of the economy away from war production, there was serious deflation. Prices dropped through the floor. So did …

10.1, Currency changes social pathology and the state

That the value of the currency fluctuates with such volatility is a sign of the unnaturalness of its cause. No people left to voluntary choice would choose as currency something that depreciated or appreciated with such speed. Aside from that, it is not a mere speculative question of causes. Those causes should take note of …

Inflation and deflation and the dollar

Some ideas stay on the periphery for years in my mind. But slowly clarity comes. When I think about inflation and deflation I think about dollars. I don’t know why. But these terms are terms about prices, but prices of goods. It is the price of goods that either becomes greater (inflation) or lesser (deflation). …