TIP294: Inflation - Deflation - Which One Is It? w/ Jeff Booth author of The Price of Tomorrow (Business Podcast)

This episode explores the complexities of inflation and deflation, particularly within the context of modern monetary policy and technological advancements. Against the backdrop of decades-long inflationary policies, guest Jeff Booth, author of "The Price of Tomorrow," argues that these policies, while seemingly beneficial in the short term, create unsustainable debt levels and distort market signals. More significantly, Booth highlights the accelerating impact of technological deflation, where prices for goods and services consistently fall due to increased efficiency and automation, creating a conflict with inflationary monetary policies. For instance, the dramatic decrease in the price of televisions since 1997 contrasts sharply with the rising cost of healthcare. Booth's central thesis posits that a deflationary monetary policy, rather than price deflation, is necessary to address this imbalance and foster sustainable economic growth. The discussion further delves into the implications of artificial intelligence and decentralized applications, emphasizing the potential for technological disruption and the need for adapting economic models to account for these changes. Ultimately, this conversation underscores the urgent need for a paradigm shift in economic thinking and policy to navigate the challenges of technological advancement and unsustainable debt levels, with implications for investment strategies and the future of work.