I've always wondered about the relation of inflation and innovation. As long as a society is sufficiently innovative inflation is not a big deal because innovat

I've always wondered about the relation of inflation and innovation. As long as a society is sufficiently innovative inflation is not a big deal because innovation tends to outpace it. This is especially interesting if you measure inflation in relation to some basket of goods that contain a good chunk of "hightech" items. But it's also relevant for more traditional items like bread due to improvements in agriculture tech etc. The interesting question is of course if a policy that tends to favour inflation also tends to favour innovation. It should because (artificially) low interest rates should c.p. lead to more long term R&D type projects being funded. (all imo, I'm not an economist) I am aware that the Austrian School gets a pretty bad rep these days but as a curious citizen of the world I have read a couple of Austrian books (Human Action, Competition and Entrepreneurship) and even if you disagree on the content I find them very pleasant...aesthetically if that makes any sense.