Pigou liked the concept of “natural rates,” which he believed the economy would usually return to. You can read more at my publish here: finsurlog.com/history-of-p...#finsurlog#finance#Deflation#Inflation#Pigoueffect#pigou

The Pigou effect describes how consumption, wealth, employment, and production are connected during deflation. You can read more at my publish here: finsurlog.com/what-is-pigo...#finsurlog#finance#Deflation#Inflation#Pigoueffect#pigou