The economic theory arguments are important, but I think it's also worth noting that the internet's facilitation of preferential attachment (asymptotically) fosters bimodal distributions in everything and the effect of the spikes swamps the hoped-for benefits of long tails.
Economic distributions that are massively skewed aren't sustainable, any more than organic distributions are; either you end up with chronic bad conditions (like diabetes) or abrupt discontinuities (like heart attacks and strokes, parallel to authoritarian crises or revolutions). I think moderate (2-3%) inflation might actually be a good thing in the short-medium term as long as its led by wage increases. Much of the inflation we're seeing now is result of demand shocks following the pandemic and thus economically rational.
Economic distributions that are massively skewed aren't sustainable, any more than organic distributions are; either you end up with chronic bad conditions (like diabetes) or abrupt discontinuities (like heart attacks and strokes, parallel to authoritarian crises or revolutions). I think moderate (2-3%) inflation might actually be a good thing in the short-medium term as long as its led by wage increases. Much of the inflation we're seeing now is result of demand shocks following the pandemic and thus economically rational.