Actually, it is. Moore's law implies a continuous decline in the prices of computers.
Deflation is a persistent rise
Decline.
in the general price level as measured using a representative basket of goods
The defined goods area can be broad or specific, and in any direction. There has been consistent deflation, for the past several decades, in the area of computer products. Individuals and groups (companies, etc.) that tend to value computer products highly also tend to delay their purchases of those computer products in anticipation of price declines, i.e. deflationary action.
If you're going to define deflation as a fall in the price of any basket of goods, then you're just using it to mean 'the price of something went down'. You can do that if you want, but it's hardly helping the conversation.
If you're going to define deflation as a fall in the price of any basket of goods, then you're just using it to mean 'the price of something went down'.
That would be the same thing as a rise in the value of money.
You can [flexibly define things narrowly or broadly] if you want, but it's hardly helping the conversation.
Do you use a different word for "temperature" for the temperature in your home, because some other parties use the word "temperature" to mean "gobal temperature"?
Different economic actors will value different things at different rates. Economic actors that happen to value computers highly will indeed perceive a rise in the value of money when computer prices drop.
But deflation is not defined that way. It's defined as a decline of the general price level, and this is measured using a basket of goods that is intended to reflect general prices. You can pick holes in the problem of measuring 'general' prices if you want, but that is nevertheless the definition.
deflation is not defined that way. It's defined as a decline of the general price level
And the term "general" is also defined. It can mean general within a nation. It can mean general worldwide. It can mean general on a continent. It can mean general in a state. It can mean general in an economic sector (food, computers, cars, clothes, houses, etc.). Etc.
Why would it be OK to use the word "temperature" in different contexts, but not the word "deflation"? What about the word "pressure"? Should we use a different word for tire pressure, because of the fact that "pressure" is also used in other contexts?
If temperature meant 'global temperature' then it would indeed be wrong to use it to describe your room temperature. But it doesn't mean that, so it isn't.
There is a general temperature in my refrigerator. There are also more-specific temperatures in my refrigerator. Each of those specific temperature areas can also be described as general, because within-them are yet more temperatuire areas and of even-greater specificity.
There is also a general temperature of my home. The general temperature of my fridge contributes to that. In turn, the general temperature of the top shelf of my fridge contributes to the general temperature of my fridge.
You are going to have to go after a lot of people and criminally prosecute them for illegally using the term "deflation" instead of the legal term "falling prices". http://www.google.com/search?q=deflation+prices+housing There are over 2 million Google hits for housing-price deflation, alone.
Actually, it is. Moore's law implies a continuous decline in the prices of computers.
Deflation is a persistent rise
Decline.
in the general price level as measured using a representative basket of goods
The defined goods area can be broad or specific, and in any direction. There has been consistent deflation, for the past several decades, in the area of computer products. Individuals and groups (companies, etc.) that tend to value computer products highly also tend to delay their purchases of those computer products in anticipation of price declines, i.e. deflationary action.