This article summarizes the main points discussed at the seminar ?Constitutional Economics: Cinderella in the Czech Economic Community? held by the Czech Economic Association in February 2000. The main speaker at the seminar was Prof. Karel Kouba (Faculty of Social Sciences, Charles University,...

The author reverts the current mainstream discussion of deflation hampering economic growth. The author first revises the definition inflation that is often misinterpreted. He shows that deflation is a natural phenomenon that often follows periods of unsustainable asset-price bubbles. He also...