@MH

You are completely right. The routine costs of capital depreciation, obsolesence and waste are not being accurately accounted for, and monetary policies implemented to compensate for them. As the cost accounting convention that all costs must go into price is always (and correctly from an economic standpoint) in effect, and depreciation allowances are but a “stay of execution” of those costs NOT a forgiveness of them and these are ADDITIONAL costs over and above any financial costs, then the rate of flow of total costs/prices will always tend to exceed the rate of flow of total individual incomes with which to liquidate such costs. These additional costs are considerable, and ever increasing as modern economies become more technologically advanced and capital intensive. A costless means of monetarily compensating for them both directly to the individual and also via price for businesses, whose desires to be competitively productive via technology and AI are healthy, entrepreneurial….and not their fault…in an economic system that is inherently cost inflationary.