Market and state -- A monetary economy -- Mainstream theory -- Heterodox traditions -- Marx's political economy -- Marx and money -- The financial state -- The golden age of steam -- German monetary policy -- UK monetary policy -- Capitalist development -- Concluding thoughts

This book analyses the causes and consequences of deflation. In contrast to the widespread believe that deflation would be harmful to the economy as a whole, the author argues that free market deflation is liberating and beneficial. Several myths of deflation are exposed and the reasons for the...