Izabella Kaminska

Abundance and the inevitability of deflation, bubbles and panics

anabundantworld.com — My last post was designed to offer historical precedent for the rise of China. It might have achieved that. But it raises more important questions. The most important is: how do financial systems cope with a world of deflation (created by both China and technology)?

Cleveland Fed Estimates of Inflation Expectations

clevelandfed.org — The Federal Reserve Bank of Cleveland reports that its latest estimate of 10-year expected inflation is 1.83 percent. In other words, the public currently expects the inflation rate to be less than 2 percent on average over the next decade.

Why Renting Cars Could Soon Be Easier Than Hailing a Taxi

wired.com — Imagine you're walking down a city street and you realize you need a ride. Instead of waving your hand to hail a cab, or even pulling out Uber to digitally summon a taxi, you call up a map that shows which cars parked along the sidewalk you could drive away right now.

Quotation of the day: Pessimists are wrong

aei-ideas.org — "Pessimists may be paying too little attention to the strength of the underlying economic and social forces that generate innovation in the modern world, Both humanity's capacity to innovate and the incentives to innovate are greater today than at any other time in history.

Free information, as great as it sounds, will enslave us all

qz.com — Imagine our world later in this century, when machines have gotten better. Cars and trucks drive themselves, and there's hardly ever an accident. Robots root through the earth for raw materials, and miners are never trapped. Robotic surgeons rarely make errors. Clothes are always brand new designs that day, and always fit perfectly, because your...