Less Than Zero

The Case for a Falling Price Level in a Growing Economy

By: George Selgin

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Paperback | 18 September 2018 | Edition Number 2

At a Glance

Paperback
188 Pages

Dimensions(cm)
17.78 x 12.7 x 1.09

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In this new edition of his highly praised 1997 book, George Selgin argues that monetary policy should not have the goal of price stability, but should aim to allow prices to move in-line with movements in productivity (the so-called "productivity norm"). Radical and contrarian, this hugely original book remains a mini-classic.

Industry Reviews

"Selgin's monograph should become required reading for every central banker."
-- DAVID BECKWORTH, Senior Research Fellow with the Program on Monetary Policy at the Mercatus Center

"In Less Than Zero, George Selgin cuts through the confusions that govern most thinking about monetary policy. It changed my thinking about deflation and inflation when it was first published, and it may do the same for yours."
-- RAMESH PONNURU, Senior Editor, National Review

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