Over on the Coordination Problem blog, a number of scholars in the field of monetary theory are having an interesting discussion on the topic of Hayek and deflationary spirals. I am providing the link. I recommend a thorough reading of the comments. The post is titled:
Hayek on Deflation
Steve Horwitz
Coordination Problem, May 3, 2011.
Image by renjith krishnan / FreeDigitalPhotos.net.
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