Fear of deflation shouldn’t be more powerful than having a rational decline. After all Japan had deflation for 30 years thanks to negative interest rates and still managed to keep a western quality of life, so it’s not impossible…
… it’s just Capitalists hate anything that isn’t an infinite growth, infinite demand model.
The only way to liberate everyone is to work less, and hence have some decline in growth. We shouldn’t preach fear around that.
Because between declining birth rates and increasing automation a decline is coming whether we’re ready to accept the role of managing it rationally or not.