RE: Irony of inflation: it's the opposite of what you'd think.

I hate that we use the dollar as a reference point, even though it is the reserve currency it isn't a static or stable entity wrt. to other currencies, commodities, etc. Thus any notation of true stability is psychological at best. Anyways, I think controlling currency in spite of the psychology of the sheep is a tall order. Central bankers have been trying to figure out the stable growth for awhile now.

One area that is perhaps not taken into account is how one determines the value of some system (whether its an economy, community, cryptocurrency, etc). Although value is a hard word to define, too many people tie it back to USD, maybe something like purchasing power is a closer definition. Anyways, wrt. to value of a system, one issue that inflation tends to bring about is mal-investment and a lack of creative destruction. Sure it spurs growth, but not all growth is good. Things like zombie companies and corporate / government bureaucracies are examples of inefficient / toxic growth. The value of the system given enough technical debt may stagnate or even decline. More time and more time is spend on trying to maintain mal-investments and maneuver through the intertangled mess of it all. Given the weight of that debt, people are too lazy to really do anything about it, especially since in some cases, on an individual short-term level, it's the best thing to do. Ignore it.

Back to psychology again. No matter how much you try and herd the sheep there's an odd attraction they have to grazing nearby cliffs.