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RE: Why the Upcoming Mass Automation Movement Will Only Make the World Better
Technology helps the masses by causing deflation. Unfortunately if the federal reserve is set on targeting 2percent inflation the masses fall further and further behind from inflation. Notice when we left the gold standard in 1971 and inflation was made easier to pursue real wages have declined. Alm you are saying is true if we can get back to the mild deflation that we had from 1820 to 1933. I like Jim Grant's definition of deflation: "progress"
Technology has always existed. We have to consider that people today seek alternative means of currency such as crypto. The trend will only grow. Deflation might was an issue back in the day with national economies playing a major role in regards to how people live but I don't see it being an issue for the future
Crypto will help with deflation ( not Steem) but Bitcoin for sure. Why would you hold and inflating currency when you could hold a less inflationary one.( nobody is talking aBout lowering supply just a allowing goods and services per coin to increase.)
Oh, I think it's going to be a hell of a fight before we control our collective financial destinies.
Not really. the blockchain will chang everything in the decade or so.