Tuesday, September 8, 2015

Inflation: the hidden impact of new technologies – Le Vif

We’ll talk, because it has an impact on the indexation of our salaries or our rents. But what is little or no talk at all, it is only part of the price decline is invisible. And this invisible decrease was caused by new technologies. That is why statisticians and economists do not really come to the measure.

It should not pick things sophisticated to understand the phenomenon, as noted by Jean Marc Vittori in Les Echos (1). Just take the case of ATMs which have multiplied in recent years. Most young people do not remember, but there was a time when you had to queue to withdraw money. We had to wait patiently for his turn. And if someone significantly older was right before you and had hearing difficulties, you had to take your troubles patiently! Same thing if one of the tellers was absent due to illness: the line stretched all the more. In short, stupidly withdraw money could make us lose an hour of our precious time.


The hidden power of new technologies on inflation

And as noted by the Echos of featured columnist “in accounting, cash dispenser is recognized in investment banking and bank card in consumer spending. ” However, as yet said Jean-Marc Vittori, “the service, the millions of hours saved each year, does not appear anywhere.”

Clearly, the rise of technology and Internet is not yet taken into account by economic statistics, which is why they are invisible. Take the case of your trips abroad: thanks to TripAdvisor or Booking.com, you will rip you do more in choosing a hotel. You know immediately via the reviews, if the question boutique hotel is actually phony because … it overlooks a highway! Again, this comfort, says Les Echos, this time savings is recognized nowhere! However, the service is real and was made! Same thing when you deliver water bottles boxes, laundry and whatever else via Internet: you avoid the tedious check your car hypermarket. And rebelote, this comfort will be recorded anywhere except unfortunately in the fact that shopping centers have seen their attendance down …

Consequently, low inflation also hides phenomena Also positive for the population, but alas, not yet considered by statisticians. And so it gives a distorted picture of our economies -. Sometimes more negative than it is in reality

(1) How the Internet helps the French to support the crisis



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