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Is it unconscionable even in the context of having to halve our global emissions in the next six years?

I think "postpone buying stuff because your money will be worth more in the future" is exactly what we should be doing at this point in time.

Deflation hurts those who are poor far more than those who are rich. It’s morally wrong to reward the wealthy for doing as little as possible.

But if your goal is just to blow up the economy, then sure, a deflationary spiral is a potent poison.

Your money won't be worth more in the future if production decreases.

You'll end up with stagflation -- prices going up but no one working tomorrow valuable stuff.