Supply vs. Supply, Part Deux What would happen, however, if our economy shifted in such a way that we were less dependent on raw materials for our wealth creation? What if the economy were to shift from being a lot like a jewelry store to something more like iTunes? What if, in addition, technology made us much more productive than we had ever been before? Larry Kudlow calls this phenomenon "tech deflation." And what if, furthermore, we were competing with the whole world at the same time, putting us under more price competition than ever before?

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