Quote from: Nefario on June 03, 2011, 12:17:40 PM

There are two schools of thought on deflation and inflation.
Keynesian economics, which favors government intervention and money supply inflation. This not surprisingly is the most popular school of thought with world governments (if someone told you to just print money and spend it you'd like them too).

This school not only supports inflation, but believes it to be essential to growth.

Then there is the Austrian school, which is is for a free market, against government intervention, and generally think inflation is bad and deflation is good. Again unsurprisingly these people are not popular in government circles around the world.

I don't know if this has already been shared, for those interested, there are two pretty cool "Hayek vs Keynes" rap videos on this subject.

http://www.youtube.com/watch?v=d0nERTFo-Sk
http://www.youtube.com/watch?v=GTQnarzmTOc

I personally like the second one better.