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The Price of Tomorrow: Why Deflation is the Key to an Abundant Future

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4.09  ·  Rating details ·  890 ratings  ·  107 reviews
Paperback, 232 pages
Published January 14th 2020 by Stanley Press
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Gilbert
Apr 14, 2020 rated it it was ok  ·  review of another edition
Shelves: business, economics
Important topic. Overstretched, amateur analysis.

This could have made a respectable, long-form status update, maybe an article. So why then, like so many business books, was it artificially inflated to bursting point? Much like the debt fueled economies Booth warns us of, we’d be better settling for less.

Technology driven deflation promises to be a fascinating topic. I kept reading hoping Booth would show off something new. He tries on all sorts of themes from Maslow to AI, none giving a satis
...more
Craig
May 24, 2020 rated it it was ok
The premise of the book is that technological advancement creates an environment such that the cost of production and goods naturally falls over time; not only that, but this natural deflationary pressure is increasing due to the pace of technological innovation, and so if governments wish to continue printing money in an attempt to stimulate economies and create jobs, they’ll have to do so at an increasing rate, receiving increasingly little in return per currency unit printed. Sticking to the ...more
Jim Lavis
Jul 02, 2020 rated it it was amazing
This book does a wonderful job of outlining the major shifts or disruptive changes occurring in our society due to the advancements in technology. Although, I believe the author’s time estimates is weak considering the discovery of Microcomb technology which advances the internet speeds more than a million times faster than any connection we have today, and it’s all done on existing infrastructure.

Self-Driving Cars

The book is suggesting that we will have level 4 self-driving cars within 5 years
...more
Sanford Chee
Apr 07, 2020 rated it really liked it
Real Vision interview the Fed’s losing battle w/ deflation
https://youtu.be/F8lfLqnhuGs

Talked about in TIP:
https://podcasts.apple.com/sg/podcast...

Interview on TIP:
https://podcasts.apple.com/sg/podcast...

COVID-19: Potential Implications for Global Supply Chains
Vikram Mansharamani, Lecturer Harvard University
The world is facing tectonic change based on existing trends and the impact of the global pandemic.
The world had already been seeing the results of consumer-led economies, overcapacity in Chi
...more
Tõnis Erissaar
May 20, 2020 rated it it was ok
The Investor Podcast guys were saying very positive words about the book. I was going through the book and I was waiting when it will get more in detail and interesting. Then the book finished and I am disappointed. It was like a long introduction to a great book without the actual book.

For example, one premise in the book is that we don't need so many jobs in the future because technology will replace people with automation. I don't agree with that because as society gets more complicated, more
...more
Warren Mcpherson
Juxtaposition of Inflation, Technology, Deflation, Energy, AI, Manipulation, and Social Polarization. I have read other books about all of these topics and I believe there is a unification to them. I struggle to find a synthesis that others would find convincing. This author doesn't bother. Everything has just been thrown in. Transitions seem jarring sometimes and it's hard to follow the development of a thesis. But there is something to that. Many of the discussions are very insightful. One obs ...more
Syed Hussaini
Mar 03, 2020 rated it it was amazing
A highly engaging, mind-blowing and can't-put-it-down read!

This book is incredibly powerful and yet so easy to read. I couldn't put it down till I finished the last page - and then I read it again. It will leave you with a new 'lens' that will give you a fresh look/perspective on trends and events happening around us. Add this to your reading list now.
...more
Mark Austin
Nov 11, 2020 rated it it was amazing
Item 1: Technology reduces time and labor required to produce more and more of what we use and consume every day. This reduction reduces prices (creating deflation) but also removes jobs.
Item 2: Technology tends to increase in exponentials, especially pronounced in computers. And many think we're approaching the steep part.
Item 3: Our financial system is debt-based, needing constant inflation to reduce the "cost" of the debt. Practically all governments are in massive debt (measured in percentag
...more
Travis
Oct 01, 2020 rated it did not like it  ·  review of another edition
Tries to cover a lot of topics, doesn’t answer much

I think the book reads well and asks a very interesting question (which is why I bought the book) - why not embrace deflation and end the seemingly never-ending debt cycle? But instead of exploring this in rigorous detail he provides some basic concepts (great for people new to economics / finance / tech but nothing really new, and then in the conclusion asks the question again: why don’t we just embrace deflation? Which is exactly what I was ho
...more
Daniel Lang
Feb 14, 2021 rated it it was amazing
Shelves: ai, money-finance
Very insightful read. Jeff's take on how accelerating technological advancements should lead to a deflationary environment where your purchasing power goes up and up and how this is in stark contrast to the fiat currency inflated economic system we live in is so true. Must read!
After reading this I watched some of his (Real Vision) interviews on YouTube - also highly recommended (e.g. COVID-19 and The Acceleration of Secular Deflation (w/ Raoul Pal & Jeff Booth)).
...more
Kim Pallister
Jun 30, 2020 rated it liked it
Good premise & topic: Technology will drive deflation, so how should we re-examine the foundations of our economies.

However, beyond a good premise and questions, the book was supported with a tired list of the usual AI, Bitcoin, VR/AR, buzzword topics - many of which made leaps to endpoints that weren't supported.

Not a *bad* book, but take with grain of salt, and it'll give you some stuff to think about
...more
Ben Lakoff
Loved the book. Covers a lot but at its core is that the the “mirage of growth today is nothing more than a debt-fueled spending binge.”

Couldn’t agree more that this rising debt is unsustainable, AND that technological change will continue to drive and accelerate deflation.

As humans we have trouble fully understand “exponential growth.”

Good examples on the single grain of rice doubled every time on a chessboard. 1 grain, 2 grains, 4, 8…. Turns into = 1.8*10^19 grains by the end of the chessboa
...more
Lukáš Pelcman
Apr 27, 2020 rated it it was amazing  ·  review of another edition
This book was a very intriguing read, full of novel and interesting ideas. The underlying motive that technology is in its nature deflationary is somewhat mindboggling, though, after following the author's arguments, it makes perfect sense. The author argues that as technological progress further advances, it will be more and more difficult "to fight" these deflationary forces and not even ever more increasing debt (credit) will help. On the contrary, the author warns that in case nothing is cha ...more
Rhett Reisman
Aug 26, 2020 rated it liked it
Shelves: bitcoin, non-fiction
I've been trying to explain this idea to people forever. The idea that this 2% inflation target is not being met because technology was driving the costs of some goods down. Why do phones cost the same every year even though they keep getting better? Why are some goods cheaper than ever on Amazon and Alibaba? Where was the inflation occurring?

This book has the answer I was unable to articulate. Technology is deflationary.

Unfortunately that nugget of good information is contained mostly in the
...more
Andrei Balici
May 24, 2020 rated it it was ok
“Why Deflation Is the Key to an Abundant Future”. So immediate and important this issue is that Jeff Booth decided to not tackle it at all and essentially ignore the premise throughout the book. Instead, we are given juvenile accounts on various topics, including game theory, solar energy and artificial intelligence. The reader would be right at this point to be confused regarding the purpose of the book: the content is very diluted and I struggled to remain engaged with it.

There’s a beautiful i
...more
Nicolas Perrault
Jul 28, 2020 rated it it was ok
Shelves: partially-read
Comes across as amateurish.. 1) He claims that the "value" of his parent's house has increased with inflation from $60,000 to $1,500,000, whereas the very idea of inflation is that the value does NOT change but the price does. If the price of everything in the economy doubles overnight, the value of everything will not double. 2) He claims that the deflationary force of technology is unstoppable by government-induced inflation. This is preposterous. In Zimbabwe in 2008-2009, inflation was of 100 ...more
Chris
Dec 28, 2020 rated it really liked it  ·  review of another edition
Interesting read. To me, it almost felt like an explanation about how the Star Trek post money economy got started as the inevitable result of exponential technological change.
Daniel Dent
May 30, 2020 rated it really liked it
Shelves: paper
This is a good book that reminds me of Abundance and The Future Is Faster Than You Think by Peter Diamandis in majority of book. It also sums up many of the heuristics of Tversky/Kahneman. Feels like retread of a lot of common material. (I was thinking is Factfulness as well when reading). Most of the book is an outline of where we are today as technology accelerates. The final chapter the author outlines ways to adapt to the disruptions rapid technological adoption is causing. That is by far th ...more
George Michaelides
Could not put this book down

One of the best and most relevant books in relation to our everyday life.

A must read for eveybody as the content is essentially about where humanity is heading in the age of ever accelerating trends and adoptions in technology advances.

Written obviously pre covid 19 era, it has proved to be even more relevant and prophetic now than ever before.
Vidar
Aug 03, 2020 rated it really liked it
This books leaves you with a lot more questions than you started reading it with, which is not a bad thing. Very though provoking and well argued, and it is probably wise that he doesn’t try to be too predictive; this will be a windy path, but the direction is pretty much given.
Serguei Filimonov
Aug 03, 2020 rated it it was ok
Great topic and overall point, but the book is way too long. Everything to this book is in chapters 1, maybe 2 and whatever the last chapter is. Even better listen to this guy on one of the podcasts and you'll get the whole message. ...more
Beryloser
Very interesting

I know about inflation I Have lived with it Now I have knowledge about deflation. And understand why there is so much effort to defeat deflation
Qasim Javed
May 10, 2020 rated it it was amazing  ·  review of another edition
This book brought together so many islands of knowledge into a cohesive picture of the world we are about to enter all the while keeping the root cause of our problems clear.
Ziga
Jun 08, 2020 rated it liked it
In essence, a book about how the prices will generally fall because of technology and how this will affect certain industries and politics. Nothing particularly original and a bit all over the place.
Attila
Jan 04, 2021 rated it it was amazing
Review:
It was a very book on our world and where are we headed. I love reading about the future and how will it look like.
It made an interesting point on the deflationary nature of technology, and how it will change our lives.
However, I am not sure if a deflationary system is good, but maybe that's because society and my pre-existing beliefs influence my thinking. Inflation helps with customer spending, in a deflationary system everybody would want to save, not spend. When you begin your carrie
...more
Stephen Perrenod
Aug 09, 2020 rated it really liked it
Booth asserts that Deflation and Automation will rule the day. How can our economies adjust?

This book was written just before COVID-19 hit the world, tipping us into another great recession that threatens the economy and could lead to massive debt defaults. It's a quick read.

We've all witnessed deflation of prices in the technology sphere, at least in relation to performance and functional parameters for computers, mobile phones, and more.

Booth sees deflation coming across the economy as a whole
...more
Brian Sachetta
Jan 23, 2021 rated it liked it
I did zero research on this title before buying it. I was actually listening to a book on Bitcoin when I saw a suggestion for it pop up, so I figured it had to be related to cryptocurrencies or something similar. With that thought, I added it to my reading list and resolved to come back to it after I finished my aforementioned crypto book.

When I later searched for this one on Amazon, I was surprised to see “Homo Deus” (a dark book about the future) right below it in the search results. I didn’t
...more
Kevin
Oct 08, 2020 rated it really liked it
A few reviews stated this book was repetitive and oversimplified. While I didn’t find it repetitive at all, I couldn’t argue against it being slightly oversimplified. It’s not dumbed down, necessarily, but the author does take some fairly shallow stances on certain things, especially towards the end, that seem to be sloppy solutions to nuanced topics. One example would be his stance on universal basic income. Although I am not sold on UBI, by any means, his argument avoided the “universal” part ...more
Catalina
Apr 01, 2021 rated it it was amazing
I’m generally hesitant to give five stars to a book, especially a non fiction book that deals with problems and solutions and ideas: mostly because I hesitate to fully champion one set of ideas (as explored by the book) before I’ve sifted through all the others.

The thing that this book really gave me personally though wasn’t just the proposed solutions to today’s social and economic chaos and inequality, it was the explanation of why those problems exist in the first place.

I’m a total beginner w
...more
Nikola Bakic
Very good book packed with a lot of very interesting observations. The biggest takeaway is that deflationary forces being unleashed by the modern tech/industrial revolution are creating a painful tug of war with the global economic system that's predicated on monetary inflation required to deal with unplayable debts. It's a very interesting, although not entirely original analysis. There is however something new and refreshing here given that we are offered to look at this problem from the lense ...more
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Jeff Booth is a visionary leader who has lived at the forefront of technology change for 20 years. He led 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.
Jeff has been featured in Forbes, TechCrunch, Inc.com, The Globe and Mail, BNN, Fast Compa
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