New York Times bestselling author and legendary investment guru Ric Edelman reveals his forward-thinking guide on how technology and science will reshape the way we save, invest, and plan for the future.
It is much deeper than Edelman realises.
All markets exist for exchange.
Exchange is predicated on scarcity, and the idea that we are prepared to give up something we have that is valuable to us, for something we consider more valuable. Variations in distributions and value sets allow such transactions to be win-win (and they aren’t always).
Nobody pays for the air they breath when outside in clear air.
In that context, air is universally abundant.
Exponentially expanding technical capacity has the ability to deliver universal abundance of an exponentially expanding set of goods and services, rendering the idea of money exponentially less useful as a tool to assist in decision making.
I make the assertion that markets and their derivative value myth of money has already dropped below the point of net social utility, but that most people are so embedded within the monetary paradigm that they just cannot see that as yet.
I have no shadow of reasonable doubt left that the concept of money now poses the single greatest existential threat to humanity, on a large and increasing number of dimensions and paradigms.
If we want a reasonable probability of long term survival then we need to transition to an abundance based value set when making decisions about our long term future.
Some sort of Universal Basic Income seems to offer the greatest probability of success as a transition strategy, to get us through the coming few decades.
The very idea of finance now seems to be clearly characterisable as a cheating strategy on the cooperative system that is human society – and games theory is clear that any form of cooperation requires attendant strategies to avoid being dominated and destroyed by cheating strategies.
And I get it is a very complex system, a very deeply nested set of complex systems.
And at root, if any of us are to have a reasonable probability of living a very long time, our systems must be fundamentally based in cooperation, with base values of individual life and individual liberty, applied universally – with all the contradictions and complexities such things deliver in their derivatives.