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

by Jeff Booth

Ben Bernanke interview with CNBC July 16, 2008 “Fannie Mae and Freddie Mac are well capitalized and in no danger of failing.” Ben Bernanke speaking to Congress September 18, 2008 “We are in danger of a broad systemic collapse, and action needs to be taken urgently to head it off. We need the authority to spend several hundred billion.”

Bitcoin (and other cybercurrencies) is an attempt at a solution.

even with risk and current high volatility, citizens in some parts of the world have less risk in holding Bitcoin than their own currency.

There is a principle in philosophy called Occam’s razor: a simpler solution is more likely to be correct than a complex one. It makes intuitive sense. Complexity makes us prone to error. As the number of assumptions in coming up with a hypothesis increases, the chances increase that one or more of those assumptions are

wrong.

What if the natural order of things was permitted? What if, instead of trying to stop deflation at all costs, we embrace it?

People will no longer have to be on an endless treadmill to pay for things that are constantly rising in price.