Jeff thank you for all you have done showing me that prices decline for ever.
Have you seen the film “What is The Problem”?. https://youtu.be/YtFOxNbmD38
And how can we measure the global productivity increase and productivity increase of sectors of the economy, and of businesses in a world where the price is skewed?
Productivity is often measured as real gross domestic product (gdp). Per capita, per year increase.
But to get to that “real” gdp we divide the nominal value (in dollars) by the price.
The price is skewed. CPI. That doesn’t measure anything.
Should we divide everything by the “price” of Bitcoin? Gold? Oil?
I have same question how do we actually estimate adjusted cpi.
Since btc is sucking monetary premium from assets it’s not as simple as looking at price of things in bitcoin. Could try and model monetary premium of asset, supply demand dynamics, subsidy and so on. Seems like impossible tasks…
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