ATOM: It Is Time to Upgrade the Economy

Technological deflation is causing distortions in many economic metrics and is just years from being the dominant force across the entire economy. Central banks will have to create new money in perpetuity to fund government spending, creating a robust, dynamic, and efficient safety net for citizens and reducing and even eliminating most forms of taxation. Failure to recognize this could result in countries falling behind more enlightened countries.

Format: Paperback / softback
Length: 248 pages
Publication date: 30 December 2020
Publisher: Business Expert Press

The rapid and widespread adoption of technology has exerted a significant influence on the global economy, leading to the emergence of a new set of economic principles. This transformation has resulted in the emergence of rapid and exponential price deflation, which is poised to become the dominant force within the economy in the coming years.

In response to this phenomenon, central banks around the world are faced with the challenge of creating new money in perpetuity to maintain economic stability. This monetary expansion, driven by the need to combat technological deflation, has the potential to fund government spending more directly and create a robust safety net for citizens. By embracing this approach, countries can reduce and even eliminate most forms of taxation by 2025-30.

However, it is crucial to recognize that failure to acknowledge the implications of technological deflation could lead to countries falling behind more advanced nations in a matter of years. The nature of current worldwide technology is to connect various disruptions, consume monetary liquidity, and drive down the prices of goods and services over time. As such, the entire technology sector must be viewed as a holistic economic entity, known as the "Accelerating TechnOnomic Medium" or "ATOM."

The impact of ATOM on the global economy is far-reaching and multifaceted. It has the potential to revolutionize industries, create new job opportunities, and improve the quality of life for individuals around the world. However, it also presents challenges, such as the need to address issues related to job displacement, income inequality, and environmental sustainability.

To navigate the complexities of the ATOM era, governments, businesses, and individuals must work together to develop policies and strategies that promote innovation, economic growth, and social well-being. This includes investing in education and training programs, promoting research and development, and implementing policies that encourage sustainable consumption and production.

In conclusion, the accelerating pace and diffusion of technological change has transformed the global economy, leading to the emergence of rapid and exponential price deflation. Central banks must create new money in perpetuity to maintain economic stability, and governments, businesses, and individuals must work together to promote innovation, economic growth, and social well-being in order to navigate the complexities of the ATOM era. By embracing this transformation, we can create a more prosperous and sustainable future for all.

ISBN-13: 9781953349507
Edition number: 2 Revised edition