noun, plural democracies. 1. government by the people; a form of government in which the supreme power is vested in the people and exercised directly by them or by their elected agents under a free electoral system.
Debt deflation is a theory of economic cycles that holds that recessions and depressions are due to the overall level of debt shrinking : the credit cycle is the cause of the economic cycle.The theory was developed by Irving Fisher following the Wall Street Crash of 1929 and the ensuing Great Depression.The debt deflation theory was familiar to John Maynard Keynes prior to Fisher's discussion of it, but he found it lacking in comparison to what would become his theory of liquidity ...
Deflation is when prices fall. Here are causes, how it's measured, how it's stopped, and why it's worse than inflation. Japan as an example.