We have the potential to create a system where everybody has their basic needs met.
We can do better than “money.”
Markets only measure exchange value, not human value. That is to say, markets measure unmet values for scarce items. Those items which exist in universal abundance have no market value. If you doubt that, consider oxygen in the air – arguably the most valuable commodity to any human being, yet of no market value because of its abundance.
When things were genuinely scarce, this made sense, and markets have served us relative well over history.
Now that we have the technical ability to deliver universal abundance of a large and exponentially growing set of goods and services, markets and market measures of value (money) actually work against human values – as monetary value can only be maintained by maintaining scarcity, and thus those at the bottom of the distribution curve miss out unnecessarily.
It is possible to characterise all major advances in evolution as the emergence of new levels of cooperation, stabilised by attendant strategies that remove cheating. Perhaps it is time for the next great advance in evolution – sapience wide cooperation, stabilised by automated production of all life essentials, and distributed real-time trust networks empowered by technology. my blog – http://www.tedhowardnz.wordpress.com explores these ideas and more.