O Intermitente
(So long, farewell, auf weidersehen, good-bye)

sexta-feira, julho 18, 2003

Os Mitos da Deflação pt I

Resumo de "An Austrian Taxonomy of Deflation" por Joseph T. Salerno. [versão copy+paste]

Redução do preço dos inputs:

"(...)[A]s Carl Menger, the founder of Austrian economics has taught us, the prices of the myriads of intermediate and original inputs into the production process, broadly categorized as capital goods, labor and natural resources, are ultimately imputed via an entrepreneurial market process from the prices of consumer goods. Thus when economists, business forecasters and Alan Greenspan scrutinize indexes of input prices such as PPI or indexes of raw commodity prices, they do so because they incorrectly believe that changes in these indexes are harbingers of future changes in general consumer prices, as if input prices determined product prices rather than the other way around."
posted by Miguel Noronha 12:30 da tarde