The other question is what units would your ideal algorithm track? Inflation can only be defined in terms of baskets of goods, which are quite subjective.

i've read Human Action, twice. and his key point is you don't need increased supply, only smaller denominations. if the economy grows, the prices of everything decrease, and this tends towards needing smaller denominations.

we already literally saw this deflation with technology for the last 100 years. nobody died from it lol.

so there is also no need to expand the money supply. based on how Mises describes it, if a money supply doesn't increase (it's a mind experiment) then if prices don't decrease it means there is either a decline in progress or a decline in aggregate production.

prices of stuff, all things being equal, meet at the middle point between supply and demand. if demand goes up, price goes up. if supply goes down, price goes up. if cost of production goes down, that tends to mean supply goes up and price goes down (jevon's paradox).

For the record I agree that a hard cap is better than arbitrary centralized control.

But there are good reasons to be concerned that a permanently deflationary conditions are not optimal for human flourishing.

I don't think it should be at all controversial to say that deflationary conditions restrict spending and capital investment, which doesn't prevent maxis from reeeeing autistically every time it's mentioned.

its not "tends to deflate", it deflates by default if there is ANY economic growth whatsoever. That tendency will limit investment that creates economic growth, it's a self-reinforcing cycle.

I don't think there's any burden of proof on the subject, not only are they plenty of examples, its obvious in the "only 21M ever" hodl mentality of bitcoiners.