Humans vs machines

Markets are reaching the end of their utility

Markets, and their valuational tool money, have served humanity well throughout history.

Markets are great tools for allocating scarce resources.
The competition of the market place is a great spur for innovation.

Both of those things, and many others, are true enough of our history.

And we are entering a new age.

We are entering an age of abundance, when we can automate the production of anything (including the production and maintenance of the production machinery).

Markets cannot deal with such abundance.

Markets must value abundance at zero, however valuable it is to people. If you doubt that, consider oxygen in the air – undoubtedly the most valuable single commodity for human life, yet worth nothing in any market, because of its abundance.

There is no incentive in any monetary system to create universal abundance, in fact there are a huge array of disincentives.

Yet humanity requires universal abundance, if the majority of humanity is to have the opportunity to self actualise.

We must, as a society, start to think beyond money and markets, and start to deal with the real needs of humanity.

About Ted Howard NZ

Seems like I might be a cancer survivor. Thinking about the systemic incentives within the world we find ourselves in, and how we might adjust them to provide an environment that supports everyone (no exceptions) - see www.tedhowardnz.com/money
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