The case for a falling price level in a growing economy. A classic title from the 1990s

In this highly praised book from 1997, George Selgin argues that monetary policy should not have the goal of price stability, but should aim to allow prices to move in-line with movements in productivity (the so-called ‘productivity norm’). Radical and contrarian, this hugely original book is a mini-classic.

1997, Hobart Papers 132, ISBN 978 0 255 36402 7, 82pp, PB

See also:

Good Money by George Selgin

How Markets Work: Disequilibrium, Entrepreneurship and Discovery by Israel M. Kirzner

The Austrian School by Jesus Huerta de Soto.

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