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Open original source ↗Yes. In general, the Internet shifts leverage from consumers back to producers.
For example, AI lets anyone manage agents. Cryptocurrency lets sellers accept payments without chargebacks. Robots let builders scale with fewer resources.
Because producers are much scarcer than consumers, this is arguably net good. Exceptions include the (many) markets with inelastic production, often because of regulation.
Everything that Western states heavily regulate or subsidize has become more expensive.
Everything that tech has reinvented has fallen in price.
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These are the quoted author’s words.
I call this the “Zillow Effect” Seamless online transactions increases demand while supply stays the same. Applies to housing, job applications, college applications, used items, concert tickets, dating, hot vacation spots, and more
spqr_sulla ↗
The inflation is here, it’s just not evenly distributed. The areas tech touches (televisions, software, phones) have experienced hyperdeflation. The areas subsidized or regulated by the state (healthcare, education) have experienced real price increases. https://t.co/Y4X4Tw2Wff
balajis ↗