Week In The News: Iraq War Ends, Europe Wobbles, Congress Frozen
Yes, price is set by supply and demand functions, both of which are extremely complex, and both of which can be influenced in many different ways (advertising, legislation, news media, corporate influences, ……). So the glib – supply and demand can and does hide a multitude of sins.
Money itself is a myth that has been extremely powerful in human development, and it seems that at this point in human evolution, money may have reacted the point where belief in the myth creates more problems than it solves.
It seems that it may be time to disinvent the myth, and move beyond the scarcity inherent in the demand function of money, and into a time of abundance. Oxygen is is both important and abundant – yet it has zero monetary value. We are capable of designing and building systems that deliver the entire range of human necessities (food, shelter, energy, transport, communication, water) in level of abundance similar to oxygen – with similar zero economic value.
The myth of money has become a major impediment to human development, human diversity, and human creativity and productivity.