TOD - the author's blogA central idea is negative interest (also known as demurrage), which discourages accumulation, allows money to circulate in the absence of growth, and encourages long-term thinking.
I had not really considered 'negative interest' as some kind of lever to be pulled or inflation to be a good thing.
Like inflation, demurrage reduces the present value of holding a unit of currency, similar to the effect of a negative interest rate on all currency in circulation.
Obviously if money would be just as valuable 50 years hence there would be less incentive to spend or invest excess currency before it evaporates. So inflation encourages spending and investing and discourages 'hoarding' under the mattress, it keeps the velocity of money high and the economy from stagnating.
Even without growth?
I learn something every day.