#20 Jeff Booth - Deflation is the Key to Creating a Paradise

Просмотров 1,9 тыс.

% 71

What if everything continuously gets cheaper?
Common sense suggests that is what paradise looks like. It's a world where everyone is able to afford more and more using less and less money. But why isn't our world like that?
I talk to Jeff Booth, author of the popular book "The Price of Tomorrow", how to create a deflationary world.
== What we talk about ==
0:04 - Introduction
1:21 - As a tech entrepreneur, how did you get interested in economics?
4:33 - The game of inflation and deflation
14:47 - Why inflation is a theft
20:21 - If we can reset the debt to zero, will it be easier for governments to pursue deflation?
23:04 - The inflation and climate change connection
26:42 - Money as a unit of information
28:46 - Is the government’s ability to print money beneficial for the poor?
37:52 - Is the free market a better system?
49:23 - How do we create a better world?
1:00:39 - How does the new deflationary system solve the problems of the world?
== About the guest ==
Jeff Booth is the author of the popular book: “The Price of Tomorrow” where he analyzes the effects of technology-led deflation and monetary-policy-led inflation. He is also the founder of BuildDirect, a technology company that aimed to simplify the building industry, for nearly two decades through the dot-com meltdown, the 2008 financial crisis, and many waves of technological disruption.
For his thoughts on technology, economy and recently bitcoin, Jeff has been featured in many publications including Forbes, TechCrunch, and The Wall Street Journal.
== Useful links ==
Jeff's homepage: www.jeffreybooth.com/
Jeff's book on Amazon: www.amazon.com/Price-Tomorrow-Deflation-Abundant-Future/dp/1999257405/
== Social media ==
Jeff's Twitter: JeffBooth
Paras Chopra's Twitter: paraschopra
== Credits ==
Sachin Vats for editing: sachinvats97
Rishabh Jain for assisting: Akhandgareeb

Опубликовано:

17 авг 2021

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 9

@jamesschroeder1174 2 года назад

Probably one of the most underrated conversations out there.

@georgegurdjieff37 3 года назад

thanks Paras

@vishalwaghmode007 3 года назад

Insightful

@PoshakDua 3 года назад

Paras Chopra is taking intellectual conversations in India forward 🚀🚀🚀♥️

@unnyradhakrishnan238 3 года назад

This is quite a deep topic. Thanks for the kind of topic and the interesting people you bring for these conversations. But so many questions popping up in my mind: - How/Why do we say that bitcoin cannot be inflated? Are we saying it is a natural force? - To get the real benefit, dont' we need a single crypto currency? (and not some 4000 or 8000 that already exist) - Can it be safely said that the power to create bitcoin/crypto currency will not be concentrated in a large group of people? - bitcoin is akin to a democracy based on truth (and not a lie). what does it really mean? - if we all agree lobbying is wrong, isnt Big Tech also the culprit (and not just the policy makers?). Or are we saying/justifying that this little 'wrong ' is for better 'right' in the future? - the winners from the current system are the one who is funding the crypto economy. the incentive they see cannot be any different from any other system. so why should crypto be different? - it is us, the humans, that created a currency based money, and it is us who are are creating crypto currency. (both are stories created by us, as Harari would say). Then, what is the guarantee that this would be better? - everything becoming digital --> more chips --> more precious metal mining --> and so on (other externalities).... So, why do we believe this can positively impact climate change? May be i will have more questions or more answers after I read the book.

@boldconjectureswithparasch6382 3 года назад

Great questions. I hope you get answers to at least some of them in his book.

@weaver03 2 года назад

1. the code of bitcoin can theoretically be changed to increase supply, but there has to be consensus among the miners, developers, and users. if you try to change the code without consensus and it is not backwards compatible, you will spawn a new chain that will have a fraction of the value of the original. rational users would not choose the new chain because the supply cap is the primary reason bitcoin is a viable money. 2. these new coins are essentially bitcoin with different rules. different block size, different protocols, different supply cap, etc. the biggest difference is that these new alt coins have foundations that control the rules in the same way a central bank does. so while you can have cool features and brilliant code in some projects, they cannot be an alternative to central banking because they operate in similar manners. 3. if bitcoin is primary currency, you can only obtain more producing more than you consume. if you consume, then you distribute. this is contrary to today where you can produce more than you consume, but you can also use debt to obtain assets that increase in value whenever the central bank increases the money supply. so if you know how to play the game today, then you benefit from the resulting inequality. there will always be inequality, but some would consider working for wealth more fair than borrowing/owning for wealth. 4. just a guess, but a lot of bit coiners are fans of Austrian economics which oppose government intervention. so if you take stupid risks, you should win stupid prizes. 2009 til today has been about taking stupid risks and getting rewarded/bailed out. ie. too big to fail. 5. idk. 6+7. not all crypto is the same. there are tons of rug pulls and scammy icos. bitcoin specifically is thought to be different because under bitcoin reserve currency, everything would get cheaper, we would be incentivized to work and save. our savings would have a higher likelihood of retaining purchasing power. there would be less appetite for debt + speculation in the market in order to keep up with inflation and thus less boom and bust cycles. 8. they think it means it will lead to less consumption. things will keep getting cheaper, so you buy what you need and save the rest.

@robbybroon4904 3 года назад

just watched three interviews with Jeff - Jeff: you need to clean your camera lens with a cleaning cloth, so you don't look like a soft-focus glamorous lady in Star Trek: The Original Series. Buy a cloth soon, they are going up!