Posted On Steve Keen’s YouTube Channel

@Conscious Being You are exactly right. Depreciation costs have been ever increasing for a couple of hundred years, and the subset of double entry bookkeeping, cost accounting and its correct and always in effect convention that all costs must go into price, is key to realizing that the lower bound of costs is literally at the bottom of the chronic inflation that plagues modern economies, not the misnomer of monetary inflation. Macro-economists splash around on the surface of accounting with debits and credits while not actually looking at the day to day operations of the economy where policy solutions to the economy’s problems can be ascertained, and being unconscious of cost accounting which enlightens the problems to be resolved.

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