Part 5/12:
However, the current financial and political systems impede this natural technological bounty, centralizing gains and stifling widespread abundance. Instead of benefiting humanity, these systems divert the productivity gains into the hands of few, exacerbating inequality and control.
Historical Context: From Free Markets to Central Control
Booth provides a historical perspective, highlighting the "Great Deflation" of the late 1800s in the U.S., where rising innovation and a free market environment elevated the middle class. Over time, institutions like the Federal Reserve have captured and manipulated the monetary system, shifting towards control mechanisms that erode individual freedoms.