JayLeClay on Nostr: Granted. Jeff Booth argues this effectively in his Price of Tomorrow: technological ...
Granted. Jeff Booth (npub1s05…eyhe) argues this effectively in his Price of Tomorrow: technological progress means the marginal cost of production falls to zero.
But, in your scenario how would a central bank manage a 0% inflation rate? That’s the part I need ELI5. Not all prices will fall at the same rate, because not everything sold is produced with technology — and some prices may increase, say, if the value provided or lack of supply for that item or service fetches a higher price tag.
But, in your scenario how would a central bank manage a 0% inflation rate? That’s the part I need ELI5. Not all prices will fall at the same rate, because not everything sold is produced with technology — and some prices may increase, say, if the value provided or lack of supply for that item or service fetches a higher price tag.