Lower inflation favors those with lots of capital parked in low productivity growth, high output sectors like resource extraction (oil, logging and mining). It

Lower inflation favors those with lots of capital parked in low productivity growth, high output sectors like resource extraction (oil, logging and mining). It makes it harder for sectors with intense R&D and complicated LoB like aerospace and other tech. A good sampling of some big national success stories exist over the last half century or more where inflation was over 4% where economies grew and diversified much faster than the US in the same period. Up to a point, inflation alone is not a very insightful indicator of economic health. Lots of other factors have to be compared, too.