Death of Money

Sixth Day. Air temperature again below the L->S phase change temperature for dihydrogen oxide. Podcast download day. Survival for the gym desert. 

Getting old is not for the young. You have got to have used up all your altruism and empathy and such to be able to withstand, however briefly, the ills of age. Needless to add, I am still under the weather although at least now undergoing some treatment. 

In that frame of mind, it seems meet to eye a couple of articles. First, a nice article [Link] entitled “Stephen Hawking Says We Should Really Be Scared Of Capitalism, Not Robots.” Not that I haven’t hammered on this previously but Hawking says it a lot better, which we can probably being educated in England rather than the Yankee republic.

If machines produce everything we need, the outcome will depend on how things are distributed. Everyone can enjoy a life of luxurious leisure if the machine-produced wealth is shared, or most people can end up miserably poor if the machine-owners successfully lobby against wealth redistribution. So far, the trend seems to be toward the second option, with technology driving ever-increasing inequality.

What struck a resonance was something unsaid but now rather obvious: the death of money.

If we go the route of complete inequality, then the serfs will have no money and the capitalists will have it all, so once we get past a transition period while the capitalists thin their own ranks, money become irrelevant.

If we go the route of equality, then money becomes meaningless except possibly for some bookkeeping purposes.

So money dies.

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