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How come we experience so much more inflation than deflation? in other words, why does our buying power decrease far more often than it increases?
(lemmy.dbzer0.com)
this post was submitted on 22 Jul 2023
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Yes, companies can save money because one person with a computer can replace a whole pool of secretaries or a room full of people doing mathematical calculation. You can buy a whole wardrobe of full of clothes for what a few outfits might have cost before, thanks to automation and cheap foreign labor. Weve seen quite a bit of that in the last 50 years. It means you can buy all the mass produced plastic crap you want, but you cant afford a house to put it in. And it has resulted in a MASSIVE boost in wealth equality, its just that it was a global phenomenon and it was the poor people in places like India and China that experienced it.