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The great focus on deflation is the major reason why we live in a boom-and-bust world. Booms lead to busts and then central bankers go all out to avoid deflation

United statesUnited kingdomTim harfordAddison wigginStephend kingPaul volckerFriedman schwartzBen bernankeAnna schwartzMilton friedmanWilliam bonnerAlban william phillipsJohn maynard keynesAndrew mellonLehman brothersGreat depression