Ah, I see: the argument is that we ought to try to maintain a little inflation, but not too much, because it acts as an incentive for better capital utilization

Ah, I see: the argument is that we ought to try to maintain a little inflation, but not too much, because it acts as an incentive for better capital utilization. Perhaps I'm being thick, but I'm still unsure: when you say, "Actually, this is the argument for low inflation," do you mean that we should focus on maintaining a low level of inflation instead of taxing underutilized capital? or in addition to it? or that, in policy terms, they're two sides of the same coin?