relationship between informatiom technology to inflation
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What is the relationship between technology and inflation?
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Cort M. Johns, Ph.D. in economics and the history of science and technology
Answered Jun 14 2016 · Author has 136answers and 32k answer views
Oh, I do like these kinds of questions. It is the kind that forces one to think out of the box, but for which there may not be any apparent good answers, because a fully researched one would most likely end up being one of the counter-intuitive variety.
I should also mention that one should first review whether inflation has any dependence on technology. My first ‘Blink’ moment response that the extraordinary accelerating advances in technology might more likely induce a deflationary spiral with extremely high unemployment, since if the present tendency for technology to be chronically displacing more employees (even when there are large numbers of highly skilled fin-tech and nanotech programming jobs available) than it creates jobs that they are qualified to fill continues then the demand for goods and services might go into a freefall.
The underlying problem is how to create new demand for all the expanding potential unused industrial capacity caused by an imploding lack of consumer demand. Plus the fact that under democratic systems, the expanding roles of un- and underemployed, yet better politically informed than voters in past years, may actually understand and vote for their own best interests.
Unfortunately, there seems to be a tendency in certain industrialized nations to try and solve the growing numbers of those not finding work to their satisfaction to seek ways to incarcerate them and thereby removing them from the rolls of the unemployed as well as removing them permanently from voter registrations by disenfranchising them for life. This approach does fill a growing government spending demand for the growing number of prisons being built and employing large numbers of prison guards.
Still the absence of across the board consumer demand is raising the subject of Basic Incomes for all adults reaching new levels of popularity and general media discussion. No longer is it so easy to assign some mysterious form of personality deficiencies to all those unemployed, when they were clearly put on the street by the diffusion of new technologies that quickly obsoleted the products and services that supported their jobs and incomes.
If I may rephrase your original question of what is the relationship between technology and inflation to what is the relationship between technology and deflation and will it likely give rise to new calls to legislated Basic Income acts, it might be easier to come up with a suggestion that may not be that far over the horizon these days.
Incarceration has reached its limits as the Sander’s campaign has indicated. Therefore, another path must be taken by politicians if they expect to stay in office for many more years longer. There will be those who stress a need to reeducate the unemployed and there is certainly many that such retraining programs will assist. However, the kinds of jobs that Fin-Tech and Nanotechnology are producing can only be filled by a rather small fraction of the unemployed and dislocated members of our society. These technologies call for tech savy software and systems programmers, we used to call them ‘nerds’. As we all know, these seemingly introverted, brainy types make up but a small portion of our general population, a segment that is likely to be fully employed and not needing a job in the first place.
That leave the fix to Basic Income until someone can come up with a better way to fix a global society broken by its own technological progress.
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2 ANSWERS

Cort M. Johns, Ph.D. in economics and the history of science and technology
Answered Jun 14 2016 · Author has 136answers and 32k answer views
Oh, I do like these kinds of questions. It is the kind that forces one to think out of the box, but for which there may not be any apparent good answers, because a fully researched one would most likely end up being one of the counter-intuitive variety.
I should also mention that one should first review whether inflation has any dependence on technology. My first ‘Blink’ moment response that the extraordinary accelerating advances in technology might more likely induce a deflationary spiral with extremely high unemployment, since if the present tendency for technology to be chronically displacing more employees (even when there are large numbers of highly skilled fin-tech and nanotech programming jobs available) than it creates jobs that they are qualified to fill continues then the demand for goods and services might go into a freefall.
The underlying problem is how to create new demand for all the expanding potential unused industrial capacity caused by an imploding lack of consumer demand. Plus the fact that under democratic systems, the expanding roles of un- and underemployed, yet better politically informed than voters in past years, may actually understand and vote for their own best interests.
Unfortunately, there seems to be a tendency in certain industrialized nations to try and solve the growing numbers of those not finding work to their satisfaction to seek ways to incarcerate them and thereby removing them from the rolls of the unemployed as well as removing them permanently from voter registrations by disenfranchising them for life. This approach does fill a growing government spending demand for the growing number of prisons being built and employing large numbers of prison guards.
Still the absence of across the board consumer demand is raising the subject of Basic Incomes for all adults reaching new levels of popularity and general media discussion. No longer is it so easy to assign some mysterious form of personality deficiencies to all those unemployed, when they were clearly put on the street by the diffusion of new technologies that quickly obsoleted the products and services that supported their jobs and incomes.
If I may rephrase your original question of what is the relationship between technology and inflation to what is the relationship between technology and deflation and will it likely give rise to new calls to legislated Basic Income acts, it might be easier to come up with a suggestion that may not be that far over the horizon these days.
Incarceration has reached its limits as the Sander’s campaign has indicated. Therefore, another path must be taken by politicians if they expect to stay in office for many more years longer. There will be those who stress a need to reeducate the unemployed and there is certainly many that such retraining programs will assist. However, the kinds of jobs that Fin-Tech and Nanotechnology are producing can only be filled by a rather small fraction of the unemployed and dislocated members of our society. These technologies call for tech savy software and systems programmers, we used to call them ‘nerds’. As we all know, these seemingly introverted, brainy types make up but a small portion of our general population, a segment that is likely to be fully employed and not needing a job in the first place.
That leave the fix to Basic Income until someone can come up with a better way to fix a global society broken by its own technological progress.
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