The Myth of Japan's Lost Decades - Kel Kelly - Mises Daily

The Myth of Japan's Lost Decades - Kel Kelly - Mises Daily: "The misleading measurement of growth in question is GDP growth, because it is practically the sole indicator used by professionals to assess economic output. The problem is that GDP is in fact not a measure of real, physical production of goods and services, as it is intended to be. It is primarily a measure of inflation, which it is not intended to be."

"prices can rise overall throughout an economy only if the quantity of money in the economy increases faster than the quantity of goods and services."