Has all the tech that has been produced over the last few decades caused a drop in prices of the big ticket items in life housing, education, healthcare, security/defense, oil/gas?
In theory science and tech, knowledge and info exploding is supposed to cause prices to drop. But in practice we see many counterintuitive things happening cuz everyone's interests aren't aligned. We live in a reality where things oscillate back and forth between different interests.
So if you look at Central Banking history you can even find examples(Volcker, Japan) were goal post can shift from price stability to price reduction. But thats just a reaction to context. And Central Banks will react depending on changing environments, unless we have some totally new economic thinking emerge.
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Has all the tech that has been produced over the last few decades caused a drop in prices of the big ticket items in life housing, education, healthcare, security/defense, oil/gas?
In theory science and tech, knowledge and info exploding is supposed to cause prices to drop. But in practice we see many counterintuitive things happening cuz everyone's interests aren't aligned. We live in a reality where things oscillate back and forth between different interests.
So if you look at Central Banking history you can even find examples(Volcker, Japan) were goal post can shift from price stability to price reduction. But thats just a reaction to context. And Central Banks will react depending on changing environments, unless we have some totally new economic thinking emerge.
Is it?