๐๐ฒ๐ณ๐น๐ฎ๐๐ถ๐ผ๐ป: ๐ฌ๐ผ๐๐ฟ ๐๐ฒ๐ ๐๐ผ ๐๐ฟ๐ฒ๐ฎ๐๐ฒ๐ฟ ๐ช๐ฒ๐ฎ๐น๐๐ต
Waitโฆ doesn't deflation lead to economic collapse? ๐ค
And isn't inflation supposed to be ๐จ๐ฐ๐ฐ๐ฅ for the economy? ๐คจ
No, and no. In the best-seller โThe Price of Tomorrowโ, nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe explains why this kind of thinking is ๐ฏ๐ฎ๐ฐ๐ธ๐๐ฎ๐ฟ๐ฑ๐.
Read on for my list of insights ๐
๐๐ป๐๐ถ๐ด๐ต๐ #๐ญ: ๐ง๐ฒ๐ฐ๐ต๐ป๐ผ๐น๐ผ๐ด๐ ๐ถ๐ ๐๐ฒ๐ณ๐น๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐ฟ๐ ๐ฑ
Technological advancements make products better and cheaper over time. A great example of this is smart phones, but we see this everywhere, in every industry.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฎ: ๐๐ฒ๐ณ๐น๐ฎ๐๐ถ๐ผ๐ป โ ๐๐ฏ๐๐ป๐ฑ๐ฎ๐ป๐ ๐๐ป๐ฒ๐ฟ๐ด๐ โ ๐๐น๐ผ๐๐ฟ๐ถ๐๐ต๐ถ๐ป๐ด ๐
Deflation leads to abundant renewable energy and resources, which means everyone and everything flourishes. But if we hold onto old and inefficient systems and paradigms, then we will get in our own way, and make the future worse.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฏ: ๐๐ป ๐๐ฐ๐ผ๐ป๐ผ๐บ๐ ๐ผ๐ณ ๐๐ผ๐ฟ๐ฟ๐ผ๐๐ฒ๐ฑ ๐ง๐ถ๐บ๐ฒ โฐ
The only way our current economy can grow is by borrowing prosperity from the future. Itโs like a drug addict living not on food or water, but ๐ฐ๐ฏ๐ญ๐บ on drugs. Itโs hardly anything that could honestly be called โgrowthโ, and itโs only a matter of time before it collapses.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฐ: ๐๐ฏ๐๐ป๐ฑ๐ฎ๐ป๐ฐ๐ฒ ๐จ๐ฝ, ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ๐ ๐๐ผ๐๐ป โ๏ธ
Itโs a simple matter of supply and demand: When rising supply meets level demand, prices fall. Eventually, resources and services can become so abundant that prices for them drop to the point of being free or almost free.
๐๐ป๐๐ถ๐ด๐ต๐ #๐ฑ: ๐๐บ๐ฏ๐ฟ๐ฎ๐ฐ๐ฒ ๐๐ฒ๐ณ๐น๐ฎ๐๐ถ๐ผ๐ป ๐ซ
Fighting deflation by defending obsolete jobs is shortsighted, and only leads to economic ruin. When deflation happens at the natural rate of technological growth, it should be embraced and celebrated. When a job is replaced by technology, the laborer can find another way to bring value to others, and everyone (including the displaced laborer) can enjoy the falling prices.
"The Price of Tomorrow" explores just that: ๐ฉ๐๐ ๐ฅ๐ง๐๐๐ ๐ฌ๐ ๐ข๐ช๐จ๐ฉ ๐ฅ๐๐ฎ ๐๐ค๐ง ๐ฉ๐๐ ๐๐ช๐ฉ๐ช๐ง๐ ๐ฌ๐ ๐๐๐ค๐ค๐จ๐.
#Bitcoin is already playing a central role on the road to an abundant future. But if humanity doesn't accept that deflation unlocks great wealth for everyone, then we have a very long, dismal road ahead. ๐
Which way will ๐บ๐ฐ๐ถ choose?
Would you recommend this book to anyone?
๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this tweet to give them a taste of what itโs about!
What book(s) do you want my insights to cover on next?
Let me know in the ๐ฐ๐ผ๐บ๐บ๐ฒ๐ป๐๐.โฌ๏ธ
Catch you next week with another Bitcoin Book Insight! ๐