Are there any good books on QE and/or deflation?

2nd Jul '20 by HHR

6 comments 1085 reads

Hello everyone, I was wondering if anyone could recommend books or articles about QE and deflation.

I have spent a day surfing Amazon and got a shortlist:-

The Socionomic Theory of Finance by Robert R Prechter
Stabilizing an Unstable Economy by Hyman Minsky
Debt, Innovations, and Deflation: The Theories of Veblen, Fisher, Schumpeter, and Minsky by J. Patrick Raines

It was hard work getting to my shortlist and I am not convinced I am going to get anything out of any of the above.

Has anyone read any of these or can you recommend alternatives - thanks?

I am aware that these subjects sometimes ignite fundamentalist economic/political viewpoints and I'm not looking for commentary of that nature because I feel I already have a broad understanding of those aspects - I am looking for a dispassionate academic viewpoint which hopefully includes real world human psychology interwoven with classical 'rational' economic theory.

PS just before posting I thought I would try searching the stocko archives and I found this article by John Mauldin

https://www.stockopedia.com/content/some-thoughts-on-deflation-45293/

which lead me to his book, Endgame: The End of the Debt SuperCycle

I might buy this but the Amazon review makes it sound a bit lightweight - that said I'm not going to cope with an all out economic text book - thanks for reading.

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dmjram

2nd Jul '20

A good article distinguishing between types of deflation:

https://uneasymoney.com/tag/heinrich-bruning/

It's worth remembering it was the Bruning delfation that led to the fall of the Weimar Republic, not the earlier hyper inflation.

HHR

3rd Jul '20

Thank you - this is exactly the sort of thing I am looking for

jjis

.This will probably give you everything you are looking for for free by - Ray Dalio

4th Jul '20

Thank you jjis - I like Ray Dalio and didn't realise he had written this. I've just ordered on Amazon

shauniekent

8th Jul '20

I havent read this book but have listened to various podcasts by the author. I think it may give a slightly different perspective on deflation the ones you have listed.

Essentially the author argues that technology is inherently deflationary. Technology gives us much more for lower cost, think of the funstionality your smartphone provides and how replacing all those functions with individual tools/pieces of kit would cost much more. Think about how software is 'easting the world' and more and more of everyday life is becoming digitised.

Now recognise that technology moves at breakneck speed (most of which is out of our sight).

Falling prices are good for consumers, they get more for less and they get to share in the productivity and efficiency gains of technology.

If you accept these facts , now compare to global govt policy to inflate and avoid deflation at all costs....

Something has to give.

https://www.amazon.co.uk/Price-Tomorrow-Deflation-Abundant-Future/dp/1999257405

9th Jul '20

Thank you Shauniekent - I've added it to my basket. I think you make a good point about different causes of deflation and the authorities following a 'one size fits all' remedy won't work

Are there any good books on QE and/or deflation?

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HHR

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