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Given the confusion around, eg, the 2008 financial crisis I just flat out reject that there was 1 lesson in the 1930s that was so unambiguous that the debate is settled. It is a ridiculous claim. There was so much going on and so many people always pop up in a crisis trying to muddy the waters to get their preferred policy through. Look at the minimum wage debate - still unsettled despite what I would consider overwhelming evidence in theory and practice. And whatever anyone's personal beliefs, if that can't be settled there is no way at all that the inflation/deflation question has a firm answer from one event in the 1930s.

Especially given that "prices always up"="good" is counter-intuitive and I can't find anyone with a clear argument in favour of inflation. There is lots of gobbledegook and occasionally people who make arguments equivalent to holidays being bad because they reduce economic output. Which is an argument but not very persuasive, I'd prefer to optimise towards an end state where I get to live out a permanent comfortable holiday; even if the economic metrics go down. I like comfort.




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