The million-dollar question is: How to you make Joe voter be less dumb?
The opposite of inflation (when prices go up), deflation (when prices go down) is never a good thing. But explaining that a bit of inflation is a good thing is something all economists agree on but most normal people can't understand. The fact that velocity should always be positive, and that "lower inflation" means lowering the rate of price growth, not deflation, is also something they don't get.
Deflation, in the abstract. is about as good or bad as inflation. Slightly better because a serious deflationary crisis is much less damaging than an inflationary one. You go to https://en.wikipedia.org/wiki/Deflation#Historical_examples and it is a whos-who of countries who then went on to be successful and prosperous and a few TBDs in the 2010s - there might be examples of catastrophic deflation but they haven't made it to Wikipedia yet.
May as well say the problem with inflation is people stop consuming because things cost more, like Tuvalu. You've picked a random high performing economy and claimed that its existence shows that people buy less when prices drop (an exotic claim). It is an unusually weak argument because it contradicts basic supply-demand logic and you've put your fingers on no evidence.
One of the reasons democracy works so well is that voters ignore that sort of unsupported just-so economic mumbo jumbo and vote for change when their living standards drop. It isn't a great algorithm but it is a lot better than the alternatives.
so if we have high inflation say due to global pandemic's effects on global supply and in response we get say 40-100% price increases (say milk was $1.00/gallon and now it is say $1.50/gallon, a modest 50% increase).
so now inflation eases, global supply chain in back to normal etc etc... we should expect now that milk prices will stay forever at $1.50/gallon (or higher) because now that would be deflation if the prices eased…?! :)
But I've thought about it a lot, and I'm still clueless. Something to do with lots of people getting screwed, I guess. But why ordinary folks switch their vote from a party that serves the top 20%, to a party that serves the top 0.01%, that is still mysterious to me.
A. you are voting FOR one of the options.
B. you are voting AGAINST the other option - hence by default you must choose the other
there is a significant number of people that are in the B. bucket (in my personal circle 9 out of 20 people fall in B. bucket, 8 of which NEVER voted for a Republican in any election prior to this one) and democratic party needs to think looooong and hard about that before midterms and especially next Presidential election