Economics for Real People: The Spectre, or Otherwise, of Deflation

Yay! Students are now back and working again at Auckland Uni (well, as hard as they ever work), so Econ For Real People seminars are up and firing again.

Here’s what’s afoot this Thursday:

A new spectre is haunting the world’s financial houses, say economists.
After decades of warning that inflation must be kept in check, and years in which central banks claim to have produced price stability -- a little healthy inflation will do you good, they say -- many economists are now fearing an imminent deflation.
Falling consumer and commodity prices are on the immediate horizon, they say, which will lead to a deadly downward spiral from which only the central banks provide hope of escape.
Yet falling consumer and commodity prices were precisely the result of the industrial revolution, producing the conditions that created the modern world.
So what's the truth about falling prices? Can they really be all bad?
What are the problems of "deflation" that many economists see? And is it possible that deflation may be a blessing, rather than a curse?
Join us to discuss these and other questions.
We look forward to seeing you there.

        Date: Thursday, July 23
        Time: 6-7pm
        Location: Case Room Two, Level Zero, Owen G. Glenn Business School
                        (plenty of parking in the basement, entrance off Grafton Rd)

We look forward to seeing you there.
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