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Podcast: Wealth Formula Podcast
Episode: 236: Will Technology Lead to Deflation? Jeff Booth
Description: In 1798 Thomas Malthus published a theory that predicted that human population growth would eventually outpace food production and thereby push living standards backwards. He based this on a simple mathematical observation that human population was growing at an exponential rate while food production growth was linear. While Malthus' theory was mathematically sound, it did not take into account that which it could not predict. Malthus had no way of knowing the impact of the industrial revolution and our increased ability to scale food production at a pace that would keep mankind prospering with enormous population growth. Doom and gloom predictions...