Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It isn't a brave new world it's a scary, depressing world.
Technology Will Lead Us To A World Of Secular Deflation
Quote:
We are a society that basically eats, sleeps, works and then veges out. Many of us now have our own prefabricated SmallHouse® (McMansions are a thing of the past; no one needs all that space, and, like mink stoles post-Mad Men, social norms regard these as the extravagances of a bygone era). That plus a car, food (the former rarely used, and both produced very inexpensively), our two-hundred dollar experience machine games, and we are happy as a clam.
So you would rather have a world of the opposite, theocracies and inflation? I don't think he even attempts to say more why religion is any part of economic or technological trends, unless it's a dog whistle for people to scream about.
Expansion of new technologies and economies of scale have little to do with deflation. Unless you count things like the rise of the power of the personal computer in the last 30 odd years, while it dropped in price, a period of massive deflation. Same with the expansion of automation in the production of the automobile.
I guess any concept might seem like another if you aren't smart enough to understand either one.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
