Consumption is the one and only goal of all economic systems, thus deflationary currency is a poor system.
We're going to disagree there. Which is okay, I suppose, but just remember that not all advocates of ---- actually, screw that too, I'm not a deflation advocate; I believe that there should be zero intervention into the effective interest rate. Fix supply, take Bitcoin-like system with "zero" friction of transfer and near-zero intertia of V, and there's no way that it will be less efficient, and will almost assuredly be more so. Less human labor involved in tampering with the money, let the machines do the work transferring and securing value, and we get more free time to either pursue hobbies, work on projects that benefit humanity, etc. Janitorial duties that can be left to machines, should. If a Roomba can vacuum just as well, that's not stealing jobs from anywhere, that's doing work that used to cost money, for much less money; freeing that labor for other things. It makes no sense that this wouldn't work for value transfer systems too.
Anyway, by my study, money is a token, and it is *itself* a proof of work. Work done in the past, by you, or someone who gave it to you. You trade it for someone else's work, and we come to mutual agreements in the open market about what a piece of work is worth. That changes with time and variables like supply and demand. But it eliminates trying to figure out whether the work involved in creating three oven-ready 12-lb chickens of a certain quality, is worth ten pounds of raspberries from this particular farm and reputation during a fantastic season for growing berries etc etc. We just trade proofs-of-work (this is why it's so intriguing that mining and the chained-hashes model is called performing proof-of-work to me) and call it a day; and it doesn't matter whether it was really my work or not. It is of course important that proofs-of-work cannot be faked. Work can't be faked, so it's troublesome if the proof can.
Likewise, if I sweep your floor for 3 hours, we come to an agreement on the value of that work, and you pay me in... a proof of it, a token, money.
Over time, the net amount of work is the sum of all previous work, and even more happily, its value is greater than just the sum of the raw parts. Knowledge on top of knowledge. The global GDP is going up as long as humans are learning and discovering and inventing and becoming more efficient. So, firstly, using Bitcoin therefore directly accelerates our rate of acquiring efficiency, thereby raising global "wealth".
There's a lot to write on this... I hope this makes sense. I have a massive paper on the grand unified economic theory tying together the reasons why time is money, and proofs of work, etc.