In This Episode:
- How technology is driving deflation and consolidation of prices
- The future of work in an era of rapid technological change
- Why the global monetary system is already insolvent
- Can Bitcoin decentralize energy and transform infrastructure?
- The challenge of informing people about the impact of technology and money manipulation
This podcast is mainly focused on the impact of technology and inflation on the current economic system. Jeff Booth, the author of “The Price of Tomorrow,” argues that technology is deflationary and that the current economic system relies heavily on debt, which could lead to catastrophic consequences if not transitioned properly.
Booth points out that technology creates deflationary pressures, which drive prices lower and lower, and that the existing monetary system is causing the currency to race to more scarce things like housing. He also argues that labor will go to the marginal cost of production and become close to zero due to artificial intelligence and robotics.
Booth proposes that we should let prices fall at the natural rate and transition to a system that chases cheap and free energy through Bitcoin. He believes that Bitcoin can decentralize energy production and achieve cleaner and greener energy.
Dave Sanderson emphasizes the importance of fact-checking and not blindly believing what anyone says, including Jeff. Sanderson believes that while technology has the potential to automate many jobs, it also creates new opportunities for innovation and creativity. He believes that people will always be needed to come up with new ideas and to create new products and services.
To sum up, this podcast covers technology’s role in the future of work, inflation’s impact on the economy, and the importance of adapting to fast-paced innovation. It suggests exploring eco-friendly options like Bitcoin for a sustainable future. Experts disagree on whether technology will decrease employment or create new opportunities for growth.
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