[dragonwriter]

> Of course this is highly unpopular with economists. They'll tell you no one would buy anything if things got cheaper.

No, they'll tell you that minor sector-specific disruptions that would, in an inflationary economy, be met with localized temporary real pay cuts via static nominal wages instead (because of the psychological difference between nominal pay cuts and static pay, even if the real pay change is the same) be met instead with massive job losses with ripple effects throughout the economy in a deflationary system making the economy more volatile, with deeper more frequent downturns, and more painful transitions as demand shifts across sectors.

Deferred purchases is more of a concern economists have with transitory deflation than persistent, planned, systemic deflation.