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Deflation is the Purpose of Economics

Monetary Aggregates like M2 are no longer the target of Central Bank Policy. Rather Central Banks target inflation at a 2% to 3% rate using a hypothetical natural rate of interest. But they should be targeting deflation at a -4% rate with a true Wicksellian natural rate based on a commodity standard or competing currencies. Deflation makes the broad population wealthier. Inflation erodes purchasing power.