Booth: Deflation or Revolution?
Jeff Booth, author of the book “The Price of Tomorrow,” joins Real Vision to discuss the fundamental social and economic changes created by the rapid advance of technology. Booth argues that the creative destruction caused by advanced tech eludes our observation because the change is so pervasive that it’s rendered invisible to our notice. He further argues that our social challenges will continue to grow in the wake of such change, because of the unavoidable deflation that technology generates. Meanwhile, in Booth’s view, central banks continue the fool’s errand of attempting to prop up inflation — while the global economic environment remains inescapably deflationary. Real Vision’s Max Wiethe hosts this thought-provoking conversation.
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