Maybe the time value of time is only increasing as we go.
Knowing that GTK (n-1) will soon be obsolete is enough reason to not put effort into learning it.
The answer to should we just sit around and wait for better technology is obviously no. We gain a lot of knowledge by building with what we have; builders now inform where technology improves.
I think the more interesting question is what would happen if we induced some kind of 2% "technological inflation" - every year it gets harder to make anything. Would that push more orgs to build more things? Everyone pours everything they have into making products now because their resources will go less far next year.
Joker_vD•1h ago
Or, you know, technological improvements that increase efficiency of production, or bountiful harvests, or generally anything else that suddenly expands the supply at the current price level across the economy. Thankfully, we have mechanisms in place that keep the prices inflating even when those unlikely events happen.
marcosdumay•1h ago
Anyway, WTF, economics communication has a huge problem. I've seen the article's explanation repeated in plenty of places, it's completely wrong and borderline nonsense.
The reason deflation is bad is not because it makes people postpone buying things. It's because some prices, like salaries or rent just refuse to go down. That causes rationing of those things.
jdasdf•57m ago
a common argument, but one that doesn't bear out in the absence of regulation enforcing that.
gus_massa•15m ago