Bruce A. McMenomy, Ph.D. and Christe A. McMenomy, Ph.D. for Scholars Online
2019-20: Mondays and Wednesdays, 6:00 - 7:30 p.m. Eastern Time
50: Mon, Mar 9, 2020
Please read the chapter and take the quiz by midnight on Sun, Mar 8, 2020.
Please also post in the forum for the day a short essay in response to this question:
The Great Depression was in many ways brought about by an imbalance of different kinds of resources — money, especially speculative money, became detached from the value of real-world goods and services; to this day, economists do not always agree on what course of action would have been the best then, or what the best course of action is now, when we find ourselves in either an inflationary or a deflationary spiral. These are complex problems, to which many people have facile but inadequate answers. We won’t be able to solve them either, almost certainly, but it’s worth thinking about them and discussing them.
Just to make sure everyone is roughly on the same page, do a little research and sketch out what is meant by “inflation” and “deflation”. What causes these conditions, and what are the practical consequences for people caught in them? Why are both of them potentially very destructive of the fabric of society?
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