Another reason deflationary currency is perceived as bad is not just because it makes life harder for debt owners, but because it can lead to its own form of boom-and-bust cycles by reducing economic activity. If you know, for example, that your cash holdings were going to grow at 10% per year, then you'd be far less willing to spend any or invest in other assets, as merely putting bitcoin under a mattress increases…
> you'd be far less willing to spend any or invest ... This will reduce consumption and investment in the larger economy Or maybe consumers will stop buying the latest and greatest just because advertisers convinced them it will make them happy. Instead, consumers will demand higher quality products, which increases overall spending on R&D instead and decreases spending on marketing. Then we will all have better prod…
At the sane time I dont see distributed production manufacturing of bespoke products or services as the answer. A modern twist on artisanal/guild like system of the past seems like a 'pastoral dream' as it were.
Still the neo liberal economic system is reaching its useful life and I don't think it will end up lil Moore's law where they keep finding ways to keep the 'law' viable.