Less than Zero

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