Deflation and Liberty

This is a pretty good defense against anti-deflationary (inflationary) policies. I was hoping it would address what would happen in a “deflationary spiral” where deflation leads to currency hoarding and eventually the currency bubble bursting, possibly addressing historical incidences of that type of scenarios (if they exist). I found that while it didn't really address that situation specifically, it did have quite a bit to think about. Hülsmann shows pretty clearly how both inflation and deflation are harmful to certain members of society but in cases of deflation, those who benefit or are harmed are usually more visible while with deflation it's anonymous on both ends.

It's hard in such a short book to counter the thousands of pages of Keynesian economics that encourage inflation, but for what it is, Deflation and Liberty does a pretty good job.