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Could money evolve again?

by archytele



Just like the printing press led money from metals to paper (our predominant currency back then across cultures was metallic coins), could computers lead money from paper / plastic to something new? Could cryptos play the intermediate role like promissory notes played back then by leading us to bank notes? Could we evolve from economic wisdom that was conceived before computers (like monetary inflation – We’ve witnessed this only when money is linked to scarcity or psychological worries)? Would producers and sellers raise prices if they’re not worried about money? Could other motivational factors drive our quality of life, like money currently does? And could we evolve money from being scarcity-linked to knowledge-linked (e.g. a system paying people to learn and research, enabling alternatives to scarce resources thereby determining the prices of scarce resources) The good news is that such a system could solve many of the problems that our current systems have no incentive to address. From climate change, poor health, energy issues, poverty and crime (non-monetary crimes could persist, but we’ll have money to manage them) to subtle issues like culture and ego (e.g. nobody needs to encourage an egoistic rich man to get more money from him!), a system that addresses money addresses a lot of the problems caused by it. The ‘better’ news is that switching to such a system will carry the advantage the rich currently have, for a few decades, before it becomes fairer to all! The bad news is that such a system has never been tried and our laws will need to be updated to allow such a system.

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