The core of the problem is that deflation encourages and enables wealth hoarding. The rich get richer by doing nothing but sitting on the wealth they already have.
inflation does this too given that the rich have access to investment vehicles that the poor don’t
This is true with the way that things currently are.
In theory, investing is participating in the economy, and functionally better (for everyone else) than simply keeping money in a static account (or just keeping it under your mattress). In a deflationary economy, everything beyond basic needs grinds to a halt because spending money is disadvantaged. This fucks over the poor who have to spend most of their money on basic needs, while the wealthy sit on their hoards like dragons.
The core of the problem is that deflation encourages and enables wealth hoarding. The rich get richer by doing nothing but sitting on the wealth they already have.
Got some bad news for you, inflation does this too given that the rich have access to investment vehicles that the poor don’t.
I would argue this is better for poor people, cause they can’t just keep all their money as investments
This is true with the way that things currently are.
In theory, investing is participating in the economy, and functionally better (for everyone else) than simply keeping money in a static account (or just keeping it under your mattress). In a deflationary economy, everything beyond basic needs grinds to a halt because spending money is disadvantaged. This fucks over the poor who have to spend most of their money on basic needs, while the wealthy sit on their hoards like dragons.