Given a modern understanding of fractals, a growth spiral can be seen as a special case of self-similarity.
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Greenspan renewed his previous assessment that " corrosive deflation, " or falling prices accompanied by a downward growth spiral, was a remote threat.
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Krugman has argued for a strong stimulus to address the risk of another depression and deflation, in which prices, wages, and economic growth spiral downward in a self-reinforcing cycle.
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That means they're less likely to send the economy into a growth spiral that forces Fed policymakers to slam the brakes hard-- and possibly turn the expansion into a recession.
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