"So long as the debts are denominated in national currency and interest rates are kept low by monetary policy, inflation reduces the real debt burden. ..."
instead of a partial debt jubilee sledge hammer
" When most of the debts are household debts, as they are in the United States and parts of the eurozone, it is not really feasible to renegotiate millions of mortgages and consumer loans"
and even if we could ..its an inferior solution
"...inflation takes care of debt loads for the whole economy."
which crucially adds fairness to the dispensation:
thus
"inflation mitigates some of the political conflict "
while lessening " some of the economic burden."
exactly !
all net debtors share in the relief
all net creditors share in the sacrifice
