3 ms·
Automation doest not bring deflation. It brings a higher standard of living where people have more money so they can buy more things. Prices still increase thou
by ineedasername 5y ago
Automation doest not bring deflation. It brings a higher standard of living where people have more money so they can buy more things. Prices still increase though-- inflation. The key is to have wage increases, and therefore quality of life, increase at a rate that at least slightly exceeds inflation so that people continuously have increasing amounts of money to improve quality of life.
This is why wage stagnation or when wages do not keep pace with inflation it's bad.