Tuesday, May 12, 2009

Visual (and musical) of the day - Inflation or Deflation


I saw this at Greg Mankiw's blog.
(by the way, in case you wonder why they mention Zimbabwe, the reason is this: Zimbabwe's inflation rate is currently at about 516 Quintillion percent.)
My answer to the question "inflation or deflation" is - deflation in the short run and inflation in the long.
UPDATE: The other video might be even better as far as country-singing-economist-humor is concerned. And who doesn't like country-singing-economist humor?

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