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In short, the economy then was limping because the dollar was in an inflationary spiral downward, and its descent led to the relative starvation of economic innovators.
FORBES: Ronald Reagan Would Not Be Fooled By Today's Presumptions of Low Inflation
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The good news from the deflationary trend, of course, is that it makes it unlikely the Fed will raise interest rates here, and almost guarantees that the U.S. economy wont go into an inflationary spiral.
FORBES: The dreaded D word
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This is probably a good thing as the vicious circle of stated inflation driving an inflationary spiral is often the reason for inflation itself, yet below the headlines inflation is just a process of too much money in the system.
FORBES: Stage Already Set For Inflation