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What is frequently called "deflation" is in fact "price deflation", as opposed to "monetary deflation". The definition of price deflation is "reduction of the general level of prices in an economy". A synonym for "price deflation" is thus "enrichment" or "abundance". In spite of this, price deflation is demonized and price inflation deemed a necessary evil. Here we compile apologia for the virtious price deflation and rebuttals for the completely undesirable price inflation.
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