What if with the new wave of technologies, such as nanotechnology which would enable us to reprogram matter at a molecular level, we can overcome scarcity once and for all? Design would then become the most important part from start to end product which can be freely shared or have a premium in the marketplace. At any rate, this will dismantle the current social, economic, and political system, because it will become irrelevant; every institution, every value system, every aspect of our lives have been governed by scarcity: the problem of distributing a finite amount of “stuff.” There will be no need for any of today’s social institutions. In other words, when nanotech and ultra-realistic VR are commonplace, the system built on scarcity will crumble and that would herald the forthcoming “economic singularity.” #EconomicSiingularity
The current faltering economic model is suboptimal, hinders economic growth, and is not sustainable going forward.
Comments are closed.