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The Price of Tomorrow

Why Deflation Is the Key to an Abundant Future
Narrated by: Brian Troxell
Length: 5 hrs and 49 mins
Categories: Non-fiction, Economics
5 out of 5 stars (14 ratings)

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Publisher's Summary

We live in an extraordinary time. Technological advances are happening at a rate faster than our ability to understand them, and in a world that moves faster than we can imagine, we cannot afford to stand still. These advances bring efficiency and abundance - and they are profoundly deflationary.

Our economic systems were built for a pre-technology era when labor and capital were inextricably linked - an era that counted on growth and inflation and an era where we made money from inefficiency. That era is over, but we keep on pretending that those economic systems still work.

The only thing driving growth in the world today is easy credit, which is being created at a pace that is hard to comprehend and with it, debt that we will never be able to pay back. As we try to artificially drive an economic system built for the past, we are creating more than just economic trouble.

On our current path, our world will become profoundly more polarized and unsafe. We need to build a new framework for our local and global economies, and soon, we need to accept deflation and embrace the abundance it can bring. Otherwise, the same technology that has the power to bring abundance to us and our world will instead destroy it.

In this extraordinary contrarian book, Jeff Booth, a leading mind and CEO in e-commerce and technology for 20 years, details the technological and economic realities shaping our present and our future, and the choices we face as we go forward - a potentially alarming, but deeply hopeful situation.

©2019 Stanley Press (P)2020 Stanley Press
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Great book

Loved this book, give it a listen. A story every one should hear and think about

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  • Tim Kennedy
  • 20-05-2020

I've got this on constant repeat, 3 times already

I had some of the ideas in this book swimming around in my head, but not until I read this book did the lights really click on and connect what's happening to the markets and the economy. Booth puts it all together and tells a well-structured narrative about how our inability to see and admit whats right in front of our faces could result in a bleak outcome. We need to make the ideas in this book mainstream so that we are not so blindsided. Currently, we are headed off a cliff trying to preserve an old archaic economic model. Technological advances will soon crush any idea we have of maintaining that system. Booth convincingly argues the inevitability of this. We need to prepare now!

This book is not a fluffy academic exercise and doesn't contain flowery prose. Jeff Booth is simply trying to wake us all the hell up! In much the same way that Kahneman's Thinking Fast & Slow was successful in turning the onus on the reader, Jeff uses real examples to show how our minds trick us into not seeing the inevitability in front of us, especially when it comes to understanding exponentials, another Kahneman fave.

This book is like when Ed Thorp published Beat the Dealer about his new blackjack strategy in the 50s. At first it was ignored, then Vegas laughed at it. Now today, when you walk into a casino to play blackjack, they deal 6 decks and shuffle in the middle, all because of that book still. They were forced to change. We will be too.

I've also listened to all the podcasts Booth has been on. He is authentic and sounding an alarm out of genuine concern for humanity.

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  • Kevin Neel
  • 26-04-2020

Stunning- Eye opening analysis of our new world.

Exceptional book. Written with layers upon layers of rationale and described in a spy novel fashion that keeps you on the edge of your seat. The world is evolving and opportunities are everywhere if you know where to look. This book helps in so many ways.

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  • Dreamer
  • 15-04-2020

Focus on the real topic, not on political labeling

Mr. Booth shouldn't get into political labels, such as "far-right AfD". Stick to economics please.

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  • Angela M Wilson
  • 12-06-2020

brilliant

thought it was a solid easy listen, right on all accounts but superficial till the last chapter. then I got a bit upset as he touched on some areas I understand extremely well..... but the closer. wow.

this is how you build a coalition. through both truth and relating with others. nothing else can work.

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  • Anonymous User
  • 23-05-2020

So much wisdom

I'm half-way through second listening. Too many important ideas and well-developed insights to get it all on one pass. If I could recommend just one book today, this is it -- ESPECIALLY to young people.

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  • D. Ryan
  • 09-05-2020

probably the best audiobook I've listened to.

thought provoking and powerful, this book will likely change your worldview. this should be required reading for every citizen of every nation everywhere.

narration was excellent. I own the ebook too. I have a hard time finding audiobooks that meet or exceed expectations; this is one of the few.

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  • MG1105
  • 26-04-2020

Must Read

This book resonated with me in many ways. Jeff articulated the challenges with face as a society. He puts language to how technology will either create mass abundance or mass destruction depending on how we manage it and whether or not our economic system is overhauled or not. Must read

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  • Marcos Valentini da Silva
  • 01-07-2020

Half brilliant, Half baked

The questions raised by the author are brilliant. The Inflationary policies and deflationary technologies build an anachronistic society.
But as the title catchphrase "WHY" Deflation is Key, one expects that the book will at least develop a thesis.
I was expecting something like Ray Dalio's economy building blocks explanation.
Companies and countries compete to innovate and produce services and goods that are more competitive (more for less), so they can be as close as possible to a monopoly of the largest possible market.
Maybe there will be a physical limit for the motivation to do more for less: When every sector would have its Amazon: Reached total possible market size (internet serving the entire world population), the declining average transaction ticket that comes with the eroding purchasing power of the population will take its toll.
Then the danger will be that the only path to keeping growing will be selling exponentially expensive goods and services to the superrich, a detached economy on today's stock market fashion.
A Better explanation on how these deflationary central bank policies or new digital currencies would give some hope to avoid those scenarios and achieve a better life would be welcome.

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  • Ryanman
  • 25-06-2020

He drinks all the kool-aid

He believes in all the pipe dreams like Elon Musk, bitcoin, and every bubble like tech startup. The rest of the book is a long winded elementary level oversimplification of various economic and psychology related theories. He is too optimistic about AI and tech. The only thing I took away that was useful to consider from this book was that technology may act as one of the many deflationary pressure against which central banks will continue to fight. However the book was way too long for all of that.

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  • Aristarco dixit
  • 20-06-2020

quedó a deber

Gran comienzo, se desinfla en el resto del libro. si encuentras un resumen será suficiente

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  • Anonymous User
  • 28-05-2020

Big ideas better than solutions, is that correct?

Big ideas better than solutions, is that correct? Thinking out of the box might help people survive as a species, but is it relevant to a person who needs to provide for his family today, a person who lives from check to check, in environment where capitalism values are not respected by biggest World economies and Governments, central banks, etc.
I found it really interesting idea to think of letting it go the deflation to rise, even though it sounds crazy. Technology creates deflation by exponential growth anyways. Super interesting!

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  • Mike
  • 08-05-2020

unfinished inconsistent and unfocused

The book starts of well with a well argued thesis that deflation is inevitable and the best thing for our prosperity is to allow it into the economy in an ordered manner. This continues with good narrative and examples to chapter 5. It falls flat from there. What follows is an incoherant but perhaps unfinished dalliance through many fields without a consistent thread from the droolings of an AI fan-boy through cod-psychology and game theory 101. Perhaps with more time to mature this narrative may work but in its current form chapters 6 onwards are best avoided.

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  • Oliver C.
  • 24-04-2020

Well written and informative

A very well written book with a great level of content. Jeff Booth is very intelligent and highlights the key upcoming changes in the economy/ wider world which as a globe we embrace, or fight. I hope this book is read by more.

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  • Marco Schletz
  • 17-04-2020

Great summary of our present situation

Highly recommended - great summary of our current situation and dilemma. Our systems are broken. But also the positive outlook info our deflation technology future