> a slightly inflationary currency offers the greatest good for the greatest number. It encourages people to _invest_ their money so it doesn't lose value. >De

> a slightly inflationary currency offers the greatest good for the greatest number. It encourages people to _invest_ their money so it doesn't lose value. >Deflationary currencies encourage people to _hoard_ money as a viable strategy, and the more people hoard, the more valuable it becomes. What's the primary source for this theory? I hear it espoused a lot but it seems counter-intuitive. People still have to buy food, shelter and clothing in a deflationary environment. Maybe if I read the larger arguments in works that established the idea I can get a better grasp on it.