Charles Hugh Smith explains why technology brings prices
down for consumers:
Sorry to bring the bad news, Fed inflationistas, but technology is irrevocably deflationary. The exceptions are: regulations that require additional technology to benefit life safety, and entrenched interests that erect barriers to competition and new technology, for example, Big Pharma and the sickcare industry.
When state-protected cartels rule the roost, costs go up no matter how much new technology is introduced.
Source: OfTwoMinds.com
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