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What were the two parts of the "double protection" that James Madison believed would protect against minority and majority tyranny?
Sustained Deflation
A prolonged period in which the level of consumer prices decreases, indicating a reduction in the inflation rate below zero percent.
World War II
A global conflict that lasted from 1939 to 1945, involving many of the world's nations, including all of the great powers, eventually forming two opposing military alliances: the Allies and the Axis.
Hyperinflation
An extremely high and typically accelerating rate of inflation, leading to a rapid erosion of the real value of local currency and causing economic instability.
Money Supply
The money supply is the total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.
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