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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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  • Sep 7 2012: Doesn't money tie one to one's own culture? It seems to me to be more than just purchasing.
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      Sep 8 2012: Do you mean historically? That we've always had it and always will? If so, that is very far from the truth. In fact, we've lived more, in the history of human species, without money than with money. And now it seems that we are approaching the end of money as we know it. [I am of course talking about money as the medium of exchange and not economics.] Natural progression perhaps? Money was good hundred years ago, but science and technology has proven it irrelevant.

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