Yes inequality is inefficient. The monitarists' conception of inflation is a temporary distortion where all the money stock and flows pick up. What you are des

Yes inequality is inefficient. The monitarists' conception of inflation is a temporary distortion where all the money stock and flows pick up. What you are describing is a spacial distortion where certain people / goods get unfair treatment. The latter is indeed quite dubious, but it's not the same as the former! Conventional monetary policy is lame and fairly ineffective, but I have seen claims that raising rates is better at destimulating than lowering is at stimulating. What a tough nuance to convey!