If you're going to define deflation as a fall in the price of any basket of goods, then you're just using it to mean 'the price of something went down'. You can do that if you want, but it's hardly helping the conversation.
If you're going to define deflation as a fall in the price of any basket of goods, then you're just using it to mean 'the price of something went down'. You can do that if you want, but it's hardly helping the conversation.
That would be the same thing as a rise in the value of money.
You can [flexibly define things narrowly or broadly] if you want, but it's hardly helping the conversation.
Do you use a different word for "temperature" for the temperature in your home, because some other parties use the word "temperature" to mean "gobal temperature"?
Different economic actors will value different things at different rates. Economic actors that happen to value computers highly will indeed perceive a rise in the value of money when computer prices drop.
And the term "general" is also defined. It can mean general within a nation. It can mean general worldwide. It can mean general on a continent. It can mean general in a state. It can mean general in an economic sector (food, computers, cars, clothes, houses, etc.). Etc.
So, we have to use a different word to describe non-general price declines? If so, what word would you suggest? http://www.google.com/search?q=deflation+prices+computers
Why would it be OK to use the word "temperature" in different contexts, but not the word "deflation"? What about the word "pressure"? Should we use a different word for tire pressure, because of the fact that "pressure" is also used in other contexts?
> what word would you suggest?
How about 'falling prices'?
>And the term "general" is also defined.
Now you're just trolling.
There is also a general temperature of my home. The general temperature of my fridge contributes to that. In turn, the general temperature of the top shelf of my fridge contributes to the general temperature of my fridge.
> How about 'falling prices'?
You are going to have to go after a lot of people and criminally prosecute them for illegally using the term "deflation" instead of the legal term "falling prices". http://www.google.com/search?q=deflation+prices+housing There are over 2 million Google hits for housing-price deflation, alone.