What usually happens when money is absent in an economy?
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In economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation ... Deflation usually .....
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Most people think economics is the study of money. But there is a paradox in the role of money in economic policy, which is this: the attention actually paid by central banks to money has declined, whereas in fact, price stability is recognised as the central objective of central banks.
The decline in the importance of money in policy formation can be witnessed by the reduction in the number of references to money in the speeches of central bank governors.
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