The Great Deflation

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The Great Deflation refers to the period from 1870 until 1890 in which world prices of goods, materials and labor decreased.[1] This had a negative effect on established industrial economies such as Great Britain while simultaneously allowing incredible growth in the United States which was just beginning to industrialize.

[edit] References

  1. ^ Michael Bordo and Angela Redish (2001). Claremont Conference on Deflation—Canadian Deflations and the Twisting Aggregate Supply Curve (pdf) 7. Rutgers University and the University of British Columbia. Retrieved on 2006-09-23.
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