Nova (stylized NOVÎ») is an American popular science television series produced by WGBH Boston. It is broadcast on Public Broadcasting Service (PBS) in the U.S., and in more than 100 other countries. The series has won many major television awards.Nova often includes interviews with scientists doing research in the subject areas covered and occasionally includes footage of a particular discovery.t is broadcast on Public Broadcasting Service (PBS) in the U.S., and in more than 100 other countries. The series has won many major television awards. Nova often includes interviews with scientists doing research in the subject areas covered and occasionally includes footage of a particular discovery.
So deflation exerts a depressing effect on spending by raising debt burdens â which, as Fisher also points out, can lead to another kind of vicious circle, in which depressed spending because of rising real debt leads to further deflation.
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 ...