I’ve been thinking lately about the new #techeconomy: the winners AND the losers, in the big picture.
Tech has made everything cheaper to produce, from cell phones to t-shirts. So why haven’t prices gone down, proportionately?
The answer: Prices are propped up by inflationary monetary policies. Since the Great Depression, “deflation” has been a dirty word.
But is it time we gave #deflation a fresh look?
3D-printing + machine learning are driving the cost of many goods down. These same tools are also putting lots of people out of work.
In a future where jobs themselves may be an endangered resource, we need creative thinking to help the economy adapt.
While the tech boom has created enormous wealth, it has also concentrated it in fewer hands.
These cycles will only accelerate in the years ahead. It’s time we gave them a closer look.
More on my views on the power of #deflation - and the #tech supercycle - in my latest @Medium article: ow.ly/fR6U3004NdJ
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