[wolfpackk]

No, it is not equivalent, as without a constant, steady inflation rate, actors in an economy have a propensity to hoard savings, which can in turn create a viscous deflationary cycle. Economics can not, at least not any time soon, be an exact science as there are infinitely many factors at work, however, a steady, relatively predictable amount of inflation coupled with understanding the time value of money is the best approach for the foreseeable future.