Welcome to the Great Inflation — Or, Why We Have to Pay for the Hidden Costs of the Industrial Age
It’s not just me. It’s probably you, too. Have you noticed that it’s starting to be hard to just…get stuff? If you’ve tried buying a car lately, you might have observed that even used car prices have climbed to relatively astronomical levels. The same is beginning to hold true for good after good — from electronics to energy. What’s going on here?
I have some bad news, and I have some…well…worse news. We’re at the beginning of of an era in economic history that’ll probably come to be known as the Great Inflation.
Prices are going to rise, probably exponentially, over the course of the next few decades. The reason for that’s simple: everything, more or less, has been artificially cheap. The costs of everything from carbon to fascism to ecological collapse to social fracture haven’t been factored in — ever, from the beginning of the industrial age. But that age is now coming to a sudden, climactic, explosive end. The problem is that, well, we’re standing in the way.
Let me explain, with an example. I was looking for a microphone for a singer I’m working with. I was shocked to read that a well-know German microphone company had just…stopped making them. And furloughed all its workers. It didn’t say why — but it didn’t need to. The reason’s obvious. Steel prices are rising, and they’re going to to keep rising, because energy prices are rising. Then there’s the by now infamous “chip shortage,” chips they probably rely on, too. Add all that up, and bang — you’ve got an historic company suddenly imploding.
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