TRANSCRIPT 🔗
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I don't know how to get people to understand, to truly understand this because we have so
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deeply internalized the exact opposite of the truth because it's just the way everything
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has been that it's really hard to understand.
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Like I remember having time coming to adjust to this truth.
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Everything should always be getting more affordable.
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if we have any progress
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if our manufacturing is any better
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if our technology is any better
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if the amount of output
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that every hour of our work
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continues to improve
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which is exactly what society does
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and the only reason we all go to work
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anyway is to make things better
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to solve problems
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to improve the process
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to manufacture and create more stuff
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and more prosperity to give more time
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everything should always
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be getting cheaper
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The only reason it doesn is because we are being screwed by how our money works If there and we able to make 10 apples a year
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and then we eat those 10 apples,
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and there's nothing else in the market,
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then an apple is a dollar.
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If you are able to make 20 apples,
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apples fall to 50 cents per apple
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if the amount of dollars don't change.
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If we find ourselves in a world where we're producing 100 apples, and apples are now $2 per apple, then we need to be looking for one of two things.
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One is that the demand for apples has 20x'd what it was just a short while ago.
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because we are producing 10 times as many apples, but the apples are still twice as much as they
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were despite 10 times the supply. Or two, there's way more money chasing those apples.
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So if we check and there in circulation chasing those 100 apples well then that means we just got robbed because somebody counterfeited a lot of money We should be paying 10 cent per apple but we not
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We're paying $2.
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And it's not because we didn't work our asses off.
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It's not because we didn't make things better.
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It's not because the farm is evil.
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It's because somebody counterfeited a lot of money.
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What would have manifested as a 10x increase in our standard of living, instead,
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turned into a loss, a 50% bleed of the value of our wages. And it was all because some institution
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or person printed $190 new dollars into existence. They literally just stole all the extra apples
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that we made by defrauding the accounting system that just keeps track of who's made apples and who
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is owed apples. And this applies to everything. This applies to houses. This applies to anything
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that you can create more of If we get better at creating more of it it should get cheaper It should be more affordable Our wages should be more valuable over time in exactly the same way that they are more
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valuable in gigabytes of storage space on a computer or a phone or any sort of device.
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Everything would do that simply to the degree that it is easier to produce and that our
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knowledge and skills for producing it get better over time.
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If that is not happening, there's been an explosion of demand for some reason, or there's been an absolute disaster in a destruction or massive loss of manufacturing capability, or your money is screwing you.
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One more time for the people in the back.
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Everything should always be getting more affordable.
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Since we clearly live in a world in which that's not happening,
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we should be looking at the money.