X-Message-Number: 10884
From: 
Date: Mon, 7 Dec 1998 18:54:02 -0600 (CST)
Subject: The death of money - reply to Timur Rozenfeld

Money IS a medium for exchange in TRADE.


When automation produces all goods and most services, and humans are unneeded, 
TRADE will die.

Example:


If you write a great novel and I want to read it, in 1998 I give you money for 
your novel.

You need money to get what you want in the world of 1998.


In 2098 your food, shelter, clothing, transportation, healthcare, and 
communications are "free".


In 2098 you don't need money to get what you want because of the economics of 
automation.

In 2098 I want to read your novel.


What will you buy in 2098 with any money I give you that you don't already have?

Other novels?

Or will you simply WANT me to read your novel?

Just like I want you to read THIS communication.

What amount of money are you paying me for it?  

Zero.

In this medium, I simply want you to read my ideas.


When there are "free" commodities, human services will not need to be traded or 
exchanged.


The concept of exchange first requires the concept of limited resources - 
scarcity.

When there is no "scarcity", there will be no need for "trade".

Another example:

It is 1998 and you have ten billion dollars of liquid wealth.

You write a novel I wish to read.

Do you need my money before you'll let me read it?

What can I offer you that you NEED, if you don't need my money?

You can GIVE me the book because you want me to read it.


Your freedom from NEED makes the issue of trading your services for money 
irrelevant.

For you, money (more money) is dead.

Summary:


The future baseline of technology will make you wealthy compared to the present.


When money is no longer NEEDED, there will be no need for "trade", nor a medium 
of trade.

Trade implies limited use of goods or services by individuals.

Money will be as dead as the dodo.

-George Smith

"The future ain't what it used to be!"

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