08 October 2011

Atavistic piety ...

inflation feeds upon inflation

 "... from time to time, capitalist economies exhibit inflations and debt deflations which seem to have the potential to spin out of control. In such processes, the economic system's reactions to a movement of the economy amplify the movement – inflation feeds upon inflation and debt-deflation feeds upon debt deflation."

  
    ... Hyman Minsky (1919-96) American economist  

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