Technological Deflation and Structural Reform

I wrote a piece for Mint on how structural policy reforms have a similar effect to technology-driven deflation. The thesis for this article came from a tweetstorm:

This is the political challenge of structural reform. The disruptive transition caused by reform means not all incumbents make it into the “new world”, just like technological changes invalidate some of the incumbents with new entrants taking their place. Those affected adversely — whether they are business and asset owners who become uncompetitive, or workers who lose their jobs — will not take kindly to being sidelined.

Originally published at