Saturday, June 30, 2012

Deflation Is A Bounty - Except To The Indebted State.

Deflation is part of the cause of the lessening of time preference and this is of vital importance for an ever-advancing civilization since capital will become more plentiful and the capital structure will lengthen. And since ethics and economics are inseparable the moral dimension of civilization makes the resulting peace and prosperity even more intriguing.

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