in a perfect world, we'd have neither inflation or deflation, as we'd be able to perfectly predict what friction is needed with every transaction to keep the wo

in a perfect world, we'd have neither inflation or deflation, as we'd be able to perfectly predict what friction is needed with every transaction to keep the world in balance. but because that's practically impossible and because we have only one or two coarse knobs on the economy, we've settled on a relatively high inflationary policy being better than any deflationary one. i'd conjecture that we could increase the number of economic friction knobs appropriately to easily get the real inflation rate under 1%, but we don't because that would lessen the advantage the already moneyed and their political appendages have with the current system.