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This seems to be an orthodox opinion I see often, and I get the intuition. But time preference is a real thing. Tech is the easiest example. People buy tech that they don’t need that will be significantly cheaper in the future. I’m not a historical expert, but this specific point didn’t seem to be an issue during the time periods we were on the gold standard.

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Having lived through the 1990's, "Deflation = bad" is a claim I am very skeptical of.

In the 1980's and 1990's computer industry, your dollars could buy a lot more megahertz or megabytes every year.

If the "deflation = bad" people were correct, everyone should have held onto their dollars waiting for next year's tech, knowing it would be a lot better than this year's tech. No one should have wanted to buy computers, and the tech industry should have been in a gigantic depression.

There's a difference between deflation due to productivity growth and deflation due to lack of money. Deflation is good if it's the result of us producing more of a thing better and thus driving the price down.

Broad-based deflation due to a lack of money to buy goods and services is bad.

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