> EDIT: It's important to note that mild inflation is a good thing. It spurs people to buy now rather than later. If inflation was zero for a hypothetical count

> EDIT: It's important to note that mild inflation is a good thing. It spurs people to buy now rather than later. If inflation was zero for a hypothetical country, why buy a house today if you know the house would be the same price 10 years from now? This argument in favour of inflation always baffles me .. yeah, maybe people weigh different reasons for/against buying something like a house now or rather later ... but I'm rather sceptic that regular people who'd buy a house to live in it (who could afford to buy it right now) would have a relevant tendency to wait another 10 years because there's almost no inflation. For entities such as real estate investors the inflation aspect is obviously a lot more relevant, yes. But for regular people, most buying decisions are probably dominated by the aspect of when they need the thing, not by the speculation of whether the thing they could use right now might still cost the same in the future. Besides that, the notion of spurring people to buy now rather than later is IMO a bit outdated. Buying less now and shifting consumption into the (hopefully less carbon footprinty) future might be one of the most important levers to push, to get humanity out of the climate catastrophe trap. Might just be the argument in favour of deflation ... let's hear it in 10 years from now. I'm also curious what all these modern monetary advocates will bring up when - contrary to their predictions - inflation doesn't just conveniently level off to an acceptable 2 per cent in the next 18 months.