The amount of currency in circulation is not changing. The money supply is not changing in any significant way.

These are issues that we are going to have to address, because they are significant.

In all likelihood, a significant amount of time will be required to restore the nearly eight and a half million jobs that were lost nationwide over 2008 and 2009.

The Depression was an incredibly dramatic episode - an era of stock-market crashes, breadlines, bank runs and wild currency speculation, with the storm clouds of war gathering ominously in the background... For my money, few periods are so replete with human interest.

If Australia finds it has a strong Australian dollar, and it has higher unemployment, then it would have to respond, and that would either be by increasing domestic demand or by weakening its own currency.

When prices are stable, people can hold money for transactions and other purposes without having to worry that inflation will eat away at the real value of their money balances.