What would happen if bit coins were produced at a steady rate indefinitely? Maybe not linearly but at some predictable growth rate. The amount of bitcoins in ci

What would happen if bit coins were produced at a steady rate indefinitely? Maybe not linearly but at some predictable growth rate. The amount of bitcoins in circulation would always go up and therefore decrease the value of each in circulation? Obviously I don't know much about economics but I can't see why this wouldn't work. Why does bitcoin have a hard limit on the total number of bitcoins produced?