The Price of Tomorrow: Why Deflation is the Key to an Abundant Future
We live in an extraordinary time. Technological advances are happening at a rate faster than our ability to understand them, and in a world that moves faster than we can imagine, we cannot afford to stand still. These advances bring efficiency and abundance—and they are profoundly deflationary.Our economic systems were built for a pre-technology era when labour and capital were inextricably linked, an era that counted on growth and inflation, an era where we made money from inefficiency. That era is over, but we keep on pretending that those economic systems still work.The only thing driving growth in the world today is easy credit, which is being created at a pace that is hard to comprehend—and with it, debt that we will never be able to pay back. As we try to artificially drive an economic system built for the past, we are creating more than just economic trouble.On our current path, our world will become profoundly more polarized and unsafe. We need to build a new framework for our local and global economies, and soon; we need to accept deflation and embrace the abundance it can bring. Otherwise, the same technology that has the power to bring abundance to us and our world will instead destroy it.In this extraordinary contrarian book, Jeff Booth, a leading mind and CEO in e-commerce and technology for 20 years, details the technological and economic realities shaping our present and our future, and the choices we face as we go forward—a potentially alarming, but deeply hopeful situation.
This book is a thoughtful book full of innovative ideas in relationship with the old ideas. I wish I had ready it a long time ago, glad I read it now though.
The price of tomorrow
Very disappointed. I read a short interview with the author and found his basic thesis interesting, so decided to get the book. However, there was not much more substantive info in the book than what was covered in the interview. Most of the book is about today’s world changing trends, which I think most people are well aware of, without many additional significant insights. When it came to the core issue of a vision of what a deflationary economic system would be like, there was not much there.