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This is an extremely cogent work, in which the author postulates that there seems no alternative to solving the world debt pandemic than for Central Banks to come together in a Bretton-Woods style agreement. Clearly-written in layman’s terms, Jeff Booth’s book will wake everyone up to the fact that deflation caused by the exponential developments in technology must be embraced rather than fought by quantitative easing (insanely kicking the problem into the long grass by printing more money). The book reflects on the fact that the world will go through much pain before realisation dawns on our Governments - if at all. Superb. Should be included in every Economics degree reading syllabus.
This is a very joined up and thoughtful book about what state the world is in at this present time and more importantly, where it is heading. Jeff Booth is a tech entrepreneur with 30 years experience in the industry which gives him unique insights into the exponential power of technology and it's corresponding exponential deflationary effects. Anyone who thinks Governments all around the world currently engaged in massive money-printing experiments will cause inflation, are mis-guided. The world is changing fast and those currently controlling the levers are doing exactly the opposite of what needs to be done. Changes will be forced upon us. Lets just hope those changes are brought about by co-operation and not conflict.
Inflation = good, deflation = bad is what we're taught in school. Booth flips this equation with a devastating blow.
He's not an economist though, but as a successful entrepreneur he understands the economy better than most. He highlights that our pre-tech era financial system no longer serves our best interests. A new paradigm is required, and deflation may be the key to the prosperous future for all that was invisaged at the beginning of the technological revolution.
Booth's ideas are particularly salient in 2020 as the gap between assets owners and salaried workers grows. Crucially for today, he also answers why no amount expansionary monetary policy will lead to true prosperity.
In short, this book is one of the most important works of our generation and is essential reading for all.
This is the first book I’ve ever bought in this subject area. I heard the author discussing it on a podcast and it instantly, yet uncharacteristically, piqued my interest. I wasn’t left disappointed. The writing style is very good and the author makes the subject area extremely accessible for a novice in this field. The ideas were explained very clearly and were very interesting. Whilst I doubt that deflation will be permitted as a serious economic model in my lifetime (though stranger things have indeed happened) I think the author makes a very compelling case and delivers it extremely well. It’s always a treat to access alternative ideas that are communicated well. This was an enjoyable, light read and I’d definitely look forward to reading material from this author in the future.
A very frank and honest look at our global economic structure and what needs to change. I’m certainly no economist but Jeff Booth conveys very clearly how tech advances can help rather than hinder our future.