Changes

'''Deflation''' is when the cost of goods decreases over time, and thereby "deflate" in their prices.  For example, deflation would exist when something that cost $1 last year then costs only 95 cents this year.  The value of paper money (e.g., a dollar bill) may increase during deflation.  Annual interest rates on savings can even become negative rather than the usual positive, as depositors may have to pay banks to safeguard the money.

'''Deflation''' is when the cost of goods decreases over time, and thereby "deflate" in their prices.  For example, deflation would exist when something that cost $1 last year then costs only 95 cents this year.  The value of paper money (e.g., a dollar bill) may increase during deflation.  Annual interest rates on savings can even become negative rather than the usual positive, as depositors may have to pay banks to safeguard the money.

'''Deflation''' is the opposite of [[inflation]], but liberals consider deflation to be worse.  The [[Great Depression]], for example, was characterized by deflation.  [[Japan]] has struggled with deflationary forces since the mid-1990s.<ref>http://www.japantimes.co.jp/opinion/2017/03/29/commentary/japan-commentary/the-truth-about-deflation/#.WV7wq-kpCUk</ref>

Deflation is the opposite of [[inflation]], but liberals consider deflation to be worse.  The [[Great Depression]], for example, was characterized by deflation.  [[Japan]] has struggled with deflationary forces since the mid-1990s.<ref>http://www.japantimes.co.jp/opinion/2017/03/29/commentary/japan-commentary/the-truth-about-deflation/#.WV7wq-kpCUk</ref>

Some properly disagree with the [[liberal]] opposition to deflation.  As one observer points out, "[t]he period of the greatest growth in the U.S. during the nineteenth century, from 1820 to 1850 and from 1865 to 1900, was associated with significant deflation."<ref>http://mises.org/library/what%E2%80%99s-so-scary-about-deflation</ref>

Some properly disagree with the [[liberal]] opposition to deflation.  As one observer points out, "[t]he period of the greatest growth in the U.S. during the nineteenth century, from 1820 to 1850 and from 1865 to 1900, was associated with significant deflation."<ref>http://mises.org/library/what%E2%80%99s-so-scary-about-deflation</ref>