Less Than Zero: The Case for a Falling Price Level in a Growing Economy

by George Selgin

Overview

LARGE PRINT EDITION! More at LargePrintLiberty.com.

This book sets out to explain the complexity of why increased production does not that always bring with it lower prices. According to the book, those who look upon monetary expansion as a way to eradicate almost all unemployment fail to appreciate that persistent unemployment is a non-monetary or 'natural' economic condition, which no mount of monetary medicine can cure. Selgin explores the differences between these monetary and natural conditions, and proposes solutions of his own.

Product Details

ISBN-13:	9781495294280
Publisher:	CreateSpace Publishing
Publication date:	01/22/2014
Edition description:	Large Print
Pages:	84
Product dimensions:	7.99(w) x 10.00(h) x 0.17(d)

Table of Contents

Foreword to the 2018 Edition by Scott Sumner

Preface to the 2018 Edition by George Selgin

Foreword to the 1997 Edition by Colin Robinson

Acknowledgements

Summary

I Introduction

II Productivity and Relative Prices

III Debtors and Creditors

IV Historical Implications of the Productivity Norm

V The Productivity Norm in Practice 101

VI Conclusion

Appendix: Productivity Norms

and Nominal Income Targets

References

Index

Editorial Reviews

"Selgin's monograph should become required reading for every central banker."
-- DAVID BECKWORTH, Senior Research Fellow with the Program on Monetary Policy at the Mercatus Center

"In Less Than Zero, George Selgin cuts through the confusions that govern most thinking about monetary policy. It changed my thinking about deflation and inflation when it was first published, and it may do the same for yours."
-- RAMESH PONNURU, Senior Editor, National Review

From the Publisher