Now with deflation and the falling of prices, we see a reversal as to who wins and who loses. If Mr. Sad Class had an income increase during a deflation, he would have gained more real income. In a deflation, Mr. Sad Class would
Now with deflation and the falling of prices, we see a reversal as to who wins and who loses. If Mr. Sad Class had an income increase during a deflation, he would have gained more real income. In a deflation, Mr. Sad Class would