Rick

“Aggregating all supply and allowing that supply to compete for audiences is how all platforms gain their power.”
― Jeff Booth, The Price of Tomorrow: Why Deflation is the Key to an Abundant Future

“The world order, largely intact since the end of the World War II, seems to be breaking down. Capitalism, and its relentless march towards progress, allowed many to win. Although no system is perfect, the rules by which capitalism operated were well regarded and understood. You could expect that if you made a big bet and were wrong, you would be wiped out—but if you were right, your hard work, ingenuity, or risk taking would be rewarded. In game theory, we could call this a dominant cooperative strategy, and it dominated for the better part of the twentieth century. The rise of fiat currencies that could be manipulated domestically and the bailout in 2008 changed that strategy to one where the players whose bad bets caused the crisis, instead of being wiped out, were rewarded handsomely. Capitalism’s long-dominant cooperative strategy was replaced by a non-dominant strategy, crony capitalism, where the cheaters won.”
― Jeff Booth, The Price of Tomorrow: Why Deflation is the Key to an Abundant Future

“Even if we accept that we are prone to errors in judgment, how do we know when to dig deeper? When might our own views not be built on stable foundations? Fortunately, there are a number of ways. Avid readers and learners, especially those who study across various fields, will tell you that they read diverse topics so they can connect patterns across disciplines or industries. From this practice, they train their brain to recognize opportunity, seeing what worked in one place and applying it elsewhere. By doing so, these people force themselves to break out of the walls that could trap them and to remain open to possibility.”
― Jeff Booth, The Price of Tomorrow: Why Deflation is the Key to an Abundant Future

“According to the World Travel and Tourism Council, in 2018, travel contributed $8.8 trillion and 319 million jobs to the global economy. Entire local economies have become reliant on tourist dollars. What will they do if travelling slows?”
― Jeff Booth, The Price of Tomorrow: Why Deflation is the Key to an Abundant Future