The economic profession developed some serious deflation PTSD from the great depression. I always heard deflation was bad. Nobody ever seemed to have a great case for why based on good historical data.
Do you see a discernible change in growth trend since the shift to consistent positive inflation? I don't.
To be clear, I'm not saying this is even close to conclusive evidence, I just feel like its a compelling enough side-by-side to warrant further questioning.
This is a chart of the US annual inflation rate. Note that consistent inflation only occurs after ~1930. https://commons.wikimedia.org/wiki/File:US_Historical_Inflat...
This is a log-scale chart of US GDP per capita adjusted for inflation and international price differences. https://ourworldindata.org/grapher/gdp-per-capita-maddison-2...
Do you see a discernible change in growth trend since the shift to consistent positive inflation? I don't.
To be clear, I'm not saying this is even close to conclusive evidence, I just feel like its a compelling enough side-by-side to warrant further questioning.