BuildDirect co-founder and Vancouver entrepreneur Jeff Booth has released of his first book titled The Price of Tomorrow: Why Deflation Is the Key to an Abundant Future.
In a sweeping analysis that draws upon economics, science, innovation, politics, psychology, sociology, and business, Booth offers an intriguing thesis predicated on the deflationary impact of technological advances coupled with increasingly easy credit.
The end result of which is a call to action.
Booth argues that our economic systems were built for a pre-technology era when labour and capital were inextricably linked, an era that counted on growth and inflation, an era where we made money from inefficiency. He says that era is over, but we keep on pretending that those economic systems still work.
Booth believes that on our current path, our world will become profoundly more polarized and unsafe. We need to build a new framework for our local and global economies, and soon; we need to accept deflation and embrace the abundance it can bring.
Otherwise, he posits the same technology that has the power to bring abundance to us and our world will instead destroy it.
“I wrote this book because I grew tired of the insufficient debate on the root causes of events happening around the globe. Inequality, polarization, and uprisings are predictable second and third-order effects of technology visibly impacting our world. Most of the conversation is spent on these issues without realizing the underlying driver,” shared Booth.
“Every day, it seems like the social contract we grew up with is at greater risk. On our current path, I worry about the world that we will pass to our children.”
Booth co-founded BuildDirect, an online marketplace for heavyweight home improvement products, with Rob Banks in 1999. Booth went on to win the BC TECH Association’s “Person of the Year” award in 2015 and left BuildDirect in 2017.
The Price of Tomorrow: Why Deflation Is the Key to an Abundant Future is available online on Amazon.