One of the ideas I have pushed is that product markets are deflationary. Alternatively, you can create competitive pressures by making factor markets more costly. Increasing wages or resource costs are not deflationary. I worked this out in a book that Jim Devine did not like.
Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901
