TED Conversations


This conversation is closed.

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?


Showing single comment thread. View the full conversation.

  • Sep 8 2012: If you are inquiring about the automation and robotics I mentioned in my post, then the answer is that I referred to the movement and distribution of consumer goods/services. The movement of money/credits does indeed speed up substantially, but I don't think that have increased the fraud or scam by the money managers (banks, financial companies, etc.) that much; at least not proportionately. Anyway, this is just the "wave of the future" like everything else, we simply can't stop the grinding of the wheels going forward. Anyway, I believe that the speed of money movement is not the problem. Rather how can we handle the movement of the goods and services in this increasing mutual dependence on international trade among many countries of the world. So I personally believe that we probably wouldn't be able to walk away from some kind of monetary system for the trading purposes,

Showing single comment thread. View the full conversation.