Reply #9: I think some people know, and they explain it pretty well [View All]

[abumbyanyothername]

even if their ideas seem a little over the top.

Google technocracy.

Essentially the idea is that as knowledge combined with energy (essentially the harnessing of energy through knowledge) proceeds, the whole price based economy is doomed because products have lower and lower human inputs. More and more can be produced, but because no one needs to work to produce it, no one earns a wage and therefore there is no one to consume it.

And that is exactly where we are now -- a vast overabundance of both products and productive capacity and a vast dearth of consumptive force.

Their answer? Divide the total daily produce (in the form of credits, not unlike money) amongst the population living between the North Pole and Panama on a daily basis. There would be no need to save, or finance anything, or provide any (additional) social security or anything like that.

They are not advocating for this system. They are predicting that the price system will eventually collapse because it must (their view, which I share, is that it is unsustainable without periodic war to destroy productive capacity and artificially recreate conditions of scarcity).