The "What is Money?" Show WiM011 - The Booth Series | Episode 1 | Inflation Opposes Innovation
Apr 20, 2021
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Inflation vs. Innovation
- Technology drives prices down exponentially, while our monetary system relies on inflation.
- This clash causes economic distortion and concentrates power.
Central Banks' Blind Spot
- Central banks, like Kodak and Blockbuster, failed to foresee technology's rapid advancement.
- Their response, increasing debt and lowering interest rates, has created a trap.
The Inertia of Change
- Jeff Booth shares an example from his own business about the difficulty of systemic change.
- Even when everyone understands the need for change, ingrained habits and existing systems create inertia.