Pricing Power : The phenomenon where the value of money falls below the price of goods is called inflation , and it is said we are currently in an era of inflation. However, it’s not that simple. Inflation is realistically characterized by prices not rising all at once during an inflationary period but rather increasing rapidly for some items and slowly for others over several years. This phenomenon is known as the ‘ Cantillon Effect .’ In other words, inflation is neither uniform nor regular. Conversely, when prices fall below the value of money, it is referred to as deflation . To survive deflation, companies must innovate, often by reducing costs and expenses. During inflation, rising costs must be passed on to other economic agents through increased prices, a concept known as Pricing Power. Since companies cannot pass on all the rising costs, many go bankrupt during periods of inflation. - Joseph’s “just my thoughts”
As the machine's intellectual ability develops and the situation that replaces the human-specific domain unfolds, it conveys the message to focus on the unique domain that only humans can do and increase our competitiveness. However, if you know the skills properly, you will find that the words could be more meaningful. This is because the area where machines replace humans is much wider and deeper than we think. If so, I'd recommend touching the area first and deeper, to replace it. - Joseph’s “just my thoughts”