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Mats Kaarbø

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Is There a Future for Money?

In our digital age, where banks and even nations fail through reckless monetary spending and policies, it seems that our monetary system is becoming the big elephant in the room, yes even obsolete. Automation replacing humans seems to be one of the fundamental contradiction of capitalism and may be the demise of the system itself leaving the looming possibility of fascism or military dictatorship to arise and flourish if we fail to arrive at any alternatives.

While some believe taking us back to the gold standard will fix things, and others believe that debt forgiveness is the solution, we hear talks about access/resource based economies, where we simply declare all of Earth's resources as the common heritage of mankind and make goods and services available to all without the use of money, credits, barter or any other system of debt or servitude, through technological abundance.

In fact, let's rephrase the question. At what point in the future do you think that our technology will make automated systems possible and allow us to move out of a monetary system?

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    Aug 22 2012: +James Zhang
    I know what money is.

    >Or you can have a factory/assembly line make the same car in a few minutes

    It is a discussion of hypothetical technology capabilities. There is a theory that we are getting closer to technological singularity. Will “these” powerful machines have a singularity-like chart of their manufacturing time costs? Becoming faster and faster from year to year to the level of “almost” instantaneous manufacturing(like computer boot time). If we talk about scarcity of fast machines so yes, it’s not post-scarcity :) Anyway we cannot definitely state that time will be always a sensible cost for manufacturing. And also we cannot definitely state the opposite.

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