Economics 201: Inflation, Disinflation, Deflation
Class Notes on the Phillips Curve
Read:
Deflation creates three problems. Krugman (New York Times, August 3, 2010)
Deflation is BAD! And weird, from a Phillips Curve standpoint. Krugman (New York Times, July 26, 2010)
Milton Friedman
Friedman's "Free Markets and the End of History" NPQ 2006
Friedman on video: Free to Choose, Limited Government, YouTube
Data
High levels of household debt make deflation MUCH worse
For interest: