Purpose The purpose of this paper is to develop an analysis of the improbable events of housing market bubbles occurring in a period when US and UK central bankers were responding to perceived risks of a new deflation. Design/methodology/approach The methodology focuses on how the anti-deflation...

Debt, Innovations, and Deflation The Theories of Veblen, Fisher, Schumpeter, and Minsky J. Patrick Raines Dean, College of Business Administration, and Professor of Economics Belmont University, USA Charles G. Leathers Professor of Economics University ofAlabama, USA Edward...