At the risk of turning this into a inflation vs deflation debate (although it has probably already was one
), it might be fair to say it boils down to what you want for your society:
Deflationary currency has a risk of high unemployment, but little wastage.
Inflationary currency has low unemployment, but a risk of high wastage.
They are mutually exclusive, and it all depends on what your appetite for the destructive forces of hunger as to which you'd find more appealing I suppose.
People will, however, still fund crappy companies even if money was really expensive...look how many people gave the original ponzi money, and back then money was backed by precious metals afaik. Bitcoins are long term deflationary...look how many people have given BS&T coins and may lose them all. I'm just saying that you can't blame people's risk appetite on the underlying trade tools. Gamblers gotta Gamble.
You're right about it all consuming resources faster, though. If people don't want money they will spend on things - yay for gdp! boo for the environment! God help this planet.
The reason it would cause unemployment is overpopulation, which I wouldn't say is caused by monetary policy but is definitely encouraged by it. What is needed is an end to the bubble: