It's interesting to compare this with HN karma. Karma is similarly inflationary, for the same reason: HN would incentivize a very different kind of dialogue if you only gained karma that someone else lost. The difference of course is that there's not a market that I know of for buying into or cashing out of karma, although it's easy to imagine how this could emerge.
Karma is inflationary, but not in the same monetary sense because karma-as-a-signalling mechanism is more valuable precisely because they cannot be traded between accounts. I guess using the popular blockchain buzzwords of the day we should be calling karma a type of "proof of valuable comment history".
