In any other field we see the same thing happen exactly the same way 20 time we assume it to be a hard rule until proven otherwise. For some reason with economics every government comes along and thinks they can guide the beast when no one has ever done so in history. I refuse to believe that a currency having 1/6 the buying power over 50 years is a good thing. Yet, under 150 years of gold standard the dollar maintained the same purchasing power.

Inflation does encourage spending. But, it also discourages saving. Everybody wants to get rid of their paper before it becomes worth less. Saving is a healthy part of an economy.