Lots of topics that we discuss on HN require careful thought and other difficult efforts but somehow do not extinguish our curiosity. Going back to the ancient Romans, an ounce of gold has always been able to purchase a suit of clothes. As the market becomes more efficient at producing goods and services, we should expect prices to decrease, not inflate. In some sectors, we do see this outcome but not in others. Yes, the analysis required to explain why is difficult, and perhaps more difficult is having to face conclusions that challenge one’s priors.

There’s a big gap between curiosity and making inferential leaps.

> As the market becomes more efficient at producing goods and services, we should expect prices to decrease, not inflate.

Yes, that’s why the cost of clothes has decreased in real terms.