for the amazing series of deflation articles that came out recently.
William L. Anderson and Doug French deserve great credit for their articles.
It’s not that I am out of touch with conventional Austrian wisdom. It’s just that even though I remember Rothbard’s explanations of business cycles in the back of my mind, and thus always spot what is right and what is wrong in newspapers and elsewhere, essential details sometimes gets buried in there too far back.
So when you see the barrage of monetarist and Keynesian articles in the papers, they just numb your brain and block out what you remember. One is able to see the flaws in different articles and merely point them out in the comments.
But the finer points of explanation, like how deflation can only fall till the level of actual specie in circulation, are only reinforced in the minds of simpler folks like me after I see articles by the more well versed economists who can articulate those things better. That reinforcement was necessary, because the alarmist gloom-and-doom feeling of perpetual deflation had just been impressed on my mind too strongly, despite me having known better. You just lose the spirit of argument in the face of such pessimistic talk from others. ![]()