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The fact is consumption makeing economic growth is a paradox.
Not necessarily. More money going around is better for the economy; businesses thrive, employees thrive, etc etc.
The lower price will make more consumption.
In the short term, yes, but if people know that their money multiplies by just sitting there, and all the while goods are constantly lowering in price, they'll only purchase the absolute minimum they could live with. This will choke out businesses at some point, halting economic activity.
Here's a more detailed write up.
We could also take Bitcoin as an example, where people would rather hold than spend because they're
incentivized to do so .
If you believe in Bitcoin you should know what did Hayek said but not traditional economy knowledge.Our world is full of goverment's lie now
All I can really say about that is that the Great Depression didn't correct itself; it was corrected by spurring spending. Don't get me wrong, I would like regulation to be kept to a minimum. I just don't think a deflationary currency is the answer, and neither does Hayek himself:
I agree with Milton Friedman that once the Crash [of 1929] had occurred, the Federal Reserve System pursued a silly deflationary policy. I am not only against inflation but I am also against deflation. So, once again, a badly programmed monetary policy prolonged the depression.