[2017-05-31]Bitcoin Could Progress the Fourth Industrial Revolution

Sounds pretty spurious.

Keynes wrote that inflationary currencies benefit manufacturers, as the value of their capital outlay for production is always exceeded by the price they can expect when they bring their goods to market. Deflationary currency environments can cause uncertainty for manufacturers, as the value of the money they spend on capital outlay for production might be more than the produced goods, due to the money itself gaining more market value than the manufacturer can add value to their materials as a result of the manufacturing process. Keynes was essentially a corporate fascist at heart, this economic paradigm benefited the dominant industrial entities most of all. And not really anyone else.

So, revolution? Not really. Or maybe, in a way.

The outcome will be to push the low cost, high volume, manufactured obsolescence grade of goods out of the market. There's little value for manufacturers in chasing the lowest common denominator in a price deflation environment. But it's still not a revolution, or only in the sense that we'll be going back to the days of high quality goods that are passed from grandparents to grandchildren, because of the inherent scarcity of goods that price deflation engenders.

Topic: [2017-05-31]Bitcoin Could Progress the Fourth Industrial Revolution (Read 3916 times)