The Myth of Deflation with Jeff Booth

“We have grown up in a different world, we’ve been programmed that deflation is a bad thing.” — Jeff Booth Location: Zoom Date: Friday, 19th June Role: Entrepreneur & Author In an inflationary Keynesian economic system, governments target low inflation to ensure a healthy economy and steady growth; however, inflation functions as a hidden tax on savings. Inflation also leads to a drop in purchasing power which drives the incentive to spend and invest rather than save. Deflation, the opposite to inflation, is when the price of a basket of goods and services drops. Unlike inflation, deflation means the purchasing power of your savings increase over time and therefore, incentivises saving as opposed to spending. Many traditional economists see deflation as dangerous as people will reduce spend with an expectation of products becoming cheaper, but this leads to an economy based on growth at any cost. Jeff Booth, author of The Price of Tomorrow: Why deflation is the Key to an Abundant Future presents an alternative argument. In this interview, I talk to Jeff Booth, and we discuss the current economic & social situation, how an inflationary system has caused inequality & division and how Bitcoin & deflation can fix this. This episode’s sponsors: Kraken - The best place to buy, sell & trade Bitcoin BlockFi - The future of Bitcoin financial services Sportsbet.io - Online sportsbook & casino that accepts Bitcoin Casa - The leading provider of Bitcoin multisig key security. ----- WBD235 Show Notes: https://www.whatbitcoindid.com/podcast/the-myth-of-deflation-with-jeff-booth ----- If you enjoy The What Bitcoin Did Podcast you can help support the show my doing the following: Become a Patron and get access to shows early or help contribute Make a tip: Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2S QR Codes: Bitcoin | Ethereum | Litecoin | Monero | ZCash | Ripplecoin If you do send a tip then please email me so that I can say thank you Subscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS Feed Leave a review on iTunes Share the show and episodes with your friends and family Subscribe to the newsletter on my website Follow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTube If you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.