Jeff Booth on the Power of Falling Prices in Technology and Healthcare

Share:

Listens: 0

MoneyBall Medicine

Miscellaneous


What if all our everyday assumptions about economics are wrong? This week Harry speaks with author and entrepreneur Jeff Booth, who says the most powerful force for change in the future will be deflation: getting more for less. Even the healthcare industry will feel the effects, he says. Listen to find out how.Booth is the author of The Price of Tomorrow: Why Deflation is the Key to an Abundant Future. The book argues that the most powerful force for innovation and change is not endless investment and growth, based on an inflationary idea that everything always gets more expensive, but technology-driven abundance, powered by exponential, deflationary trends in computing and storage that drive the price of everything down. Booth says governments should stop striving to ward off deflation and recognize that economic systems built around credit, debt, and eternal inflation only reinforce radical inequality and class resentment. As the deflationary force of technology spreads to even more industries—including healthcare—it will become necessary to rewrite all the rules of business and investing, he argues. Even healthcare organizations and drug developers will be forced to adapt to exponential technology change, such as the exploding amount of data on individual patients, Booth says.Booth co-founded Vancouver, BC-based BuildDirect, an online marketplace for building and home-improvement products, and is now a co-founder and advisor to numerous technology startups.Please rate and review MoneyBall Medicine on Apple Podcasts! Here's how to do that from an iPhone, iPad, or iPod touch:• Launch the “Podcasts” app on your device. If you can’t find this app, swipe all the way to the left on your home screen until you’re on the Search page. Tap the search field at the top and type in “Podcasts.” Apple’s Podcasts app should show up in the search results.• Tap the Podcasts app icon, and after it opens, tap the Search field at the top, or the little magnifying glass icon in the lower right corner.• Type MoneyBall Medicine into the search field and press the Search button.• In the search results, click on the MoneyBall Medicine logo.• On the next page, scroll down until you see the Ratings & Reviews section. Below that, you’ll see five purple stars.• Tap the stars to rate the show.• Scroll down a little farther. You’ll see a purple link saying “Write a Review.”• On the next screen, you’ll see the stars again. You can tap them to leave a rating if you haven’t already.• In the Title field, type a summary for your review.• In the Review field, type your review.• When you’re finished, click Send.• That’s it, you’re done. Thanks!