Just think in simple terms: as technology allows us to produce more of what we want with less labor and time, ceteris paribus, prices should fall relative to ou

Just think in simple terms: as technology allows us to produce more of what we want with less labor and time, ceteris paribus, prices should fall relative to our labor and time. A man gathering berries by hand makes for expensive berries. A man harvesting berries with basket and stick technology will make the price for them fall. What's true for this primitive example becomes even more powerful as you move up the production and technology chain: a woodworker with proper power tools can make chairs far more affordable to other people than someone working with simple hand tools can. So, yes, everything else being equal, the advance of technology will cause prices to decline over time and this is a natural and good thing. It's a measure of the level of corruption in economic discourse that this strikes intelligent people as a novel or insane concept.