When did the notion that a currency which loses value over time is ideal become orthodoxy?
There are plenty of legitimate arguments that can be constructed against the idea of an inherently inflationary currency too.
There are plenty of legitimate arguments that can be constructed against the idea of an inherently inflationary currency too.
In short, empirically, wages and prices are sticky. We assume it has something to do with humans being stubborn, but don't really know why. However, until our imminent replacement by the kind robots, currencies must move if people won't.