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[–] ForTheUltimate ago
No you are. I'm asking how the fact that the economy is natural resource based or not affects growth and price deflation. and I won't read the rest for now
[–] CanIHazPhD ago
Easy, a large increase in production (i.e. picking the low hanging fruit) leads to deflation that does not reduce aggregate demand and disincentives taking loans (because the influx of capital lets you pay directly).
Now go read the rest.
[–] ForTheUltimate ago (edited ago)
You haven't finished. In fact, you've barely started if at all. Explain why one of those economies cannot achieve a large increase in production. Furthermore, how large does it have to be? I bet there is no magic treshold and it only has to be larger than the increase in the money supply. Literally no reason any economy would be capable of this. Also, low hanging fruit my ass, tell that to the africans. In fact it was likely more difficult than today's economy. I do not adopt your term ''low hanging fruit'' without an explanation or evidence, hwoever this is besides the point.
I have such a low opinion of it I certainly won't search it, but I'll take a look if you find it.