Get ready for the cost of living to be reduced substantially in the future. Why is this? Obvious and not so obvious reasons. Tech is going to make life cheaper and with driverless cars and virtual reality our working lives are definitely going to change and we are going to have Rapid Demonetization across the working world. Interesting times ahead
People are concerned about how AI and robotics are taking jobs, destroying livelihoods, reducing our earning capacity, and subsequently destroying the economy. In anticipation, countries like Canada, India and Finland are running experiments to pilot the idea of "universal basic income" — the unconditional provision of a regular sum of money from the government to support livelihood independent of employment. But what people aren't talking about, and what's getting my attention, is a forthcoming rapid demonetization of the cost of living. Meaning — it's getting cheaper and cheaper to meet our basic needs.