[jandrewrogers]

Inflation affects the value of currency, not assets. Oprah isn’t sitting on billions in cash, presumably. Those billions are invested in assets, which typically inflate at a rate similar to inflation. This is why one of the best hedges against inflation is owning things like real estate and equities. The value is separate from any currency you can denominate it in.

The benefit of mild inflation, to phrase what you wrote a little differently, is that it encourages people to create assets with substantial intrinsic value as a way to dispose of currency. Everyone wants to own as little currency as possible. There are many positive externalities to asset creation.

[datadrivenangel]

Assets tend to require continued investment and upkeep.