The ‘Enemy of the People’ Is At It Again
by Tom Woods
“The corporate press is the enemy of the people.”
If they wanted
to, these reporters could find other economists who say there’s nothing
wrong with falling prices, but since they’re lackeys for the status quo,
they don’t want us entertaining the possibility of prices that trend
downward rather than upward, because then maybe we’ll start questioning
the regime under which we live.
The arguments advanced by “economists” like this, who say falling prices are a bad thing, are unpersuasive, to say the least.
Thus Duncan Weldon writes in The Guardian: “Falling prices
might sound like a good thing, and in individual cases they often
are”—hey, he throws us a bone there!—”but a falling general price level
is usually associated with severe economic strains.”
Where’s his evidence? Not one word of proof is supplied, because
“deflation causes depressions” is just something all right-thinking
people know and doesn’t require evidence.
I have a novel idea: how about we check the data?
Full article:
https://libertarianinstitute.org/articles/the-enemy-of-the-people-is-at-it-again/
Libertarian Institute
npub1jj…39576
2024-04-02 18:53:23
Author Public Key
npub1jjn8f2qr0cc576c0qme737hgh0d8j3uyrugrehhyv4rh9dwy3kyqc39576Published at
2024-04-02 18:53:23Event JSON
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"content": "The ‘Enemy of the People’ Is At It Again\n by Tom Woods\n\n“The corporate press is the enemy of the people.”\n\nIf they wanted \nto, these reporters could find other economists who say there’s nothing \nwrong with falling prices, but since they’re lackeys for the status quo,\n they don’t want us entertaining the possibility of prices that trend \ndownward rather than upward, because then maybe we’ll start questioning \nthe regime under which we live.\n\nThe arguments advanced by “economists” like this, who say falling prices are a bad thing, are unpersuasive, to say the least.\nThus Duncan Weldon writes in The Guardian: “Falling prices \nmight sound like a good thing, and in individual cases they often \nare”—hey, he throws us a bone there!—”but a falling general price level \nis usually associated with severe economic strains.”\nWhere’s his evidence? Not one word of proof is supplied, because \n“deflation causes depressions” is just something all right-thinking \npeople know and doesn’t require evidence.\nI have a novel idea: how about we check the data?\n\nFull article:\nhttps://libertarianinstitute.org/articles/the-enemy-of-the-people-is-at-it-again/",
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