I like using Jeff Booth's starting point as my own: "The natural state of the free market is deflationary." A short explainer why, ie. increases in productivity & availability drive costs of production down. And if you can get agreement on that, the rest follows smoothly.
The next question then is why, despite the deflationary tendency, do prices continue to rise for everyone.
I like using Jeff Booth's starting point as my own: "The natural state of the free market is deflationary."
A short explainer why, ie. increases in productivity & availability drive costs of production down. And if you can get agreement on that, the rest follows smoothly.
The next question then is why, despite the deflationary tendency, do prices continue to rise for everyone.