Price decreases in a specific area due to productivity gains or advancing technology are an entirely different thing from systemic, economy-wide deflation. The

Price decreases in a specific area due to productivity gains or advancing technology are an entirely different thing from systemic, economy-wide deflation. The last round of significant deflation we had was during the Great Recession of 2008-2009. The last round of serious deflation we had was the Great Depression. Those weren't fun times to live in. Few personal economic events are more catastrophic than getting stuck with an underwater mortgage (it's probably worse than anything beyond major uninsured medical bills). Few large-scale phenomena are uglier than farmers dumping produce (because prices have collapsed to the point that it's no longer is worth the cost of shipping) while, at the same time, people are going hungry. While it's true that people worked less during those deflationary periods, they didn't actually find it quite as enjoyable as you seem to think it is.