I made this video in response to the claim, advanced at the time by Rick Santorum but a common error committed by a great many people on both left and right, that price inflation is necessary for economic growth.
Here’s the Santorum video I was referring to:
On inflation, and money in general, there is no getting around Murray Rothbard’s What Has Government Done to Our Money? and The Case for a 100 Percent Gold Dollar, which can also be listened to.
On deflation, I recommend the following sources:
Articles and Monograph:
“Deflation and Depression: Where’s the Link?” by Joseph T. Salerno
“Apoplithorismosphobia” (.pdf) by Mark Thornton. (Thornton coined the term to refer to the fear of deflation.)
“An Austrian Taxonomy of Deflation – With Applications to the U.S. by Joseph T. Salerno
“Optimal Monetary Policy” by Jörg Guido Hülsmann
Deflation and Liberty by Jörg Guido Hülsmann; audiobook
“On Deflation” by Joseph T. Salerno
“The Economics of Deflation” by Jörg Guido Hülsmann
“The Gold Standard in Theory and Myth” by Joseph T. Salerno
I cover both inflation and deflation in my books Meltdown and Rollback.
On booms and busts before the Fed, see this video:
For more on these subjects, check out our Learn Austrian Economics resource.
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