You seem to suggest in all these cases that spending is inherently good. Estate tax = incentive to give away. Inflation = incentive to buy now. I understand this is one of the core concepts of Keynesian economics. But there exists an alternative school of thought that posits that inflation causes volatile business cycles and central banks are inefficient at allocating resources. Success of a bitcoin-based economy would seem to support the correctness of this Austrian school of economics. We shall have to wait and see.
True, I do believe that money flowing from one person to the next (i.e. spending) encourages progress and opportunity. I think those are (on balance) good things. I think it's good to have some convection in the pool.
I don't want a central bank to 'allocate resources' but I don't mind when Wall St. closes due to panic selling or the market closes when someone blows up a skyscraper while everyone figures out wtf that means. I think sports are better with referees. Kill-the-man-with-the-ball is only fun for the biggest guy. Football is a better game.
What we have right now is great but I also don't think Bitcoin is going in the right direction. If you think bitcoin will be less volatile than the overall economy now think about how much easier it would be to corner a market in BTC than USD. Think about how easy it will be to buy off a politician. I don't think democracy can survive under bitcoin.
