• Shawn
    13.3k
    There is no doubt in my mind that deflation is the greatest threat to fiat economies.

    The issue is two faceted; but, there is hope from the economic turmoil that Generalized Artificial Intelligence will generate, undoubtedly.

    The first thing that will most likely happen is the cessation of wealth enrichment. It won't really matter if you have a billion or a trillion if everyone's purchasing power increases. Even a 1% deflation rate will make the rich go batshit.

    Keynesian economics will be on steroids, at least initially, which will still be beneficial to the poor. After enough money gets pumped into the economy, which will hasten the demise of the rich, the poor will still win with policies like Universal Basic Income.

    What happens next is open for discussion. What do you think will be defined as the new unit of value?
bold
italic
underline
strike
code
quote
ulist
image
url
mention
reveal
youtube
tweet
Add a Comment

Welcome to The Philosophy Forum!

Get involved in philosophical discussions about knowledge, truth, language, consciousness, science, politics, religion, logic and mathematics, art, history, and lots more. No ads, no clutter, and very little agreement — just fascinating conversations.