Is Deflation the Natural Result of Progress?

Jim Grant giving the Henry Hazlitt Memorial Lecture at the Mises Institute.  Here Jim is talking about how technological progress leads to deflation...




The full lecture can be seen here.

Suppress Technology and Watch Prices Rise

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