You're assuming macro-economics is concrete, peer reviewed science. Lot's of people disagree. The great depression lasted way longer than it should have because of the anti-deflationary measures put into place, like slaughtering millions of livestock to prop up commodity prices while starving, out of work people looked on in horror. If prices had been allowed to fall, wage rates could have come down to a price where hiring made sense.
Read Rothbard's "America's Great Depression" for a good overview of the case against macro-economics and deflationary interventionism.
Well, yes. But those who insist that deflation is terrible are hardly going to agree that the depression was made worse by all the ham fisted attempts to fix it.
> But those who insist that deflation is terrible are hardly going to agree that the depression was made worse by all the ham fisted attempts to fix it.
Pretty much everyone, everywhere on the political spectrum, irrespective of what they think about deflation, agrees that the depression was made worse by "all the ham fisted attempts to fix it".
There's some disagreement about which of the particular policy responses fall into the category of "ham fisted attempts", sure, but the Fed's initial deflationary policy is one of the most widely accepted (I mean, its a point on which Keynesians and Hayek agree.)
No it's not. Millions of PC's are sold each quarter, even though they cost as much as a TV and they get cheaper all the time. When you need it, you need it. You might wait a couple of months, but at the end of the day you have to pull the trigger based on need. It's called marginal utility. When you determine that the usefulness of a good (to you) outweighs the usefulness of the cash that good would displace, you buy it.
In this post-GR era, opening up the code like this really opens up opportunity for serious innovation. As an aggregator/reader developer I look forward to digging in and seeing how you solved some issues.
