Jeff Booth on nostr

Open in Damus

@Jeff Booth 1676558798

1) Prices in a free market fall to their marginal cost of production.
2) The marginal cost of production keeps falling towards zero due to technological advancements

Which means that if “your” prices are going up over time….1) it is not a free market and 2) you’re measuring from an inferior currency to Bitcoin.

3342❤️56🤙70❤️2

This is why a deflationary monetary system is benefiting. Huge increase of quality of life 🍀

Wealth Theory · 193w

Electro ⚡️ · 193w

It’s frustrating that all my attempts to orange pilling is failing. They complaining about real estate price all the time and wish somebody told them to buy lot of real estate earlier. I told them buy bitcoin otherwise they will complain in few years.

What do you mean by "free market"? I always hear this term and can only think of a few countries where the markets are "free"... and they're usually dysfunctional.

Nackoo2000 · 193w

or you stop using technology

Thanks Jeff 🧡

ClownWorld · 193w

We measure the quality of our work in terms of the amount of energy we expend on those efforts. If the currency unit we are rewarded with changes from year to year due to inflation then the energy is not being valued appropriately since the first law of thermodynamics states that energy can be nei...

Jeroen ✅ · 193w

Is that always 1 AND 2? Or can it be 1 OR 2?

₿TC Fiend · 193w

Luke Broyles provided some nice signal on this as well yesterday on Preston's podcast. Need to get him over to Nostr.

You ask most economists whether a free market, or capitalism, is good. They’ll answer, “Yes it’s good”. But still they don’t agree that money should be free as well. How can there ever be a free market if the money market is rigged?

captain ☦️ · 193w

But cost is relative to everything else. There is an opportunity cost with the production of anything.

CantillonEffet · 193w

In a world which won't be able to fund UBI forever and for everyone with abundant money , the best we can do instead as a society is bring prices towards zero, to share the fruits of our advancements in technology. Then the amount of work needed to support yourself and your family decreases over tim...

OH, wait.... I thought falling prices are bad....., just as C.Lagarde keeps telling us with horror in her voice....ECB have to "save us" from such a plague...🤡