Video: Debating Technology-Driven Deflation
In this off-the-cuff episode of Fed Watch, Christian and I dove more deeply into the technology-driven deflation debate we started last week with our guest Jeff Booth. conversation that did not get resolved fully last time: Is the deflation from technology first or is the inflationary environment first?.
I attempted to make the claim that it is the culture and capital structure that results from debt-based fiat money that incentivizes massive technological advancement. Without debt-based fiat money, the deflationary pressure from innovation will return to the natural and gradual speed we saw throughout the days of the classic gold standard.