People are actually arguing hyperinflation is worse than deflation? My God this forum is full of morons.
Hyperinflation is worse than deflation. This is not actually a remotely controversial position.
Deflation basically means economic depression. Hyperinflation might eat out most of growth, but it doesn't generally lead to the same lows.
Well, speaking purely about economies, would you rather live in 1990s Japan or 1920s Germany?
Sorry, Antonio, but--while I'm not an expert on the subject and could be misinformed by the economic education that I do have--I'm going to have to part company with you on this one.
Well, obviously it does depend on the degree of hyperinflation/deflation. Zimbabwe and Germany in the 1920s are the most extreme cases, but a more classical example would be Italy in the 1980s. Similarly, deflation can get worse than Japan's (although you certainly know far more than I do about Japanese history), as in the Great Depression.
Anyway, my apologies to everyone in this thread for having been so arrogant. I clearly not as good at economics as I thought I was, and I might well be wrong on this issue (though I'd like to be sure about that, if we can have a peaceful conversation).
