Money can buy you a fine dog, but only love can make him wag his tail.
Suppose we do nothing and let the thing to be developed on its own. The currently observed tendencies may help us to envision what will happen. The price of all products tend to keep dropping. Soon, all the commodities needed for normal everyday life will cost almost nothing, especially after we pass the point of Technological Singularity. The demand for humans as workers will decrease because the robots will do all the mechanical job. Uneducated people will have no chance to get a job, unless they go to school, which is very hard to do after certain age. We will have no choice but to pay them a minimum welfare for them to be able to live normally. It will be totally affordable to us and does not look like a problem. Moreover, it looks good, like we became so rich, that we can make everyone happy in the society, even those people who do nothing. Is that so? Let us take a look what happens next after that. People on welfare tend to make a lot of children, because then they get even more money from welfare. Working people tend to the opposite, having less children. People on welfare (with rare exceptions) give poor education to their children, and their children are likely to stay on welfare too. Soon, we will have a society of people doing nothing but living on welfare provided by robots. Humanity will then degrade, just like it was described in one of the science fictions.
Yes, we may try to fix this scenario under nowadays monetary system with more and more government regulations, which will most likely lead to other problems producing never ending self-feeding loop. It is better to think outside of the box and to change the monetary system itself to better serve us under the new conditions.
You may find a lot of discussions in the literature and on the internet criticizing the contemporary money concept. We will not repeat it here, partly because the primary purpose of this site is to create, not to criticize, partly because we do not support or agree with all the critics out there, although one may encounter a lot of valid points. We could not find another site on the internet, which would set a goal of creating new economy through a wide-open discussion, and that is why this site has emerged.
Here, we list a few the most crucial reasons for the development of a new economy.
- To free up human resources from unnecessary professions like accounting, money broker, lawyer, financial adviser, financial officer, etc. Those jobs require high enough intelligence, provide adequate salary and consequently attract the most skillful people, while they are so-called unproductive professions. People of those professions are excluded from creative or fruitful work of any kind. They would contribute in a much more efficient way under the new economic model.
- To bring education system onto a much higher level. In the current monetary setup with a profit-driving economy, school teachers have no way ever to win a competitive salary. What can be more important for the society than to take a good care of the new generation? However, somehow, this was always on the second plan. Whatever new economy we use, it must provide such conditions that school teachers become the most respectful members of the society. Are many enough good teachers available? Yes, many people would be rather working with children, than doing accounting or such for the sake of getting a better salary. We, as a society, waste those people. As soon as teachers feel themselves on the top of the community, the best and most skillful people will come to be the teachers. Read more on education discussion in the chapter “Education”.
- To eliminate the last kind of slavery, namely, financial debt. Slavery used to be the only possible and reasonable way to progress in ancient times. Then, at some point, it was noted that a work of a free person is more efficient given that all humans get approximately the same essential education. Thus the old type of slavery has been eliminated. Then the next type of slavery emerged which is based on financial debt. It is much more advanced in action and much harder to understand, but the new economy must eliminate that too.
- To bring people, who make our lives better, to a respect they deserve. Consider, for example, a farmer, who grows natural food products of very high quality. The profit-oriented economy forces such guy to lower the quality of their product for the sake of bigger volume in order to survive the competition. Do we not respect ourselves? There are enough people who would love to run a farm growing some amount of good products, just because it feels good to do a valuable job. But they cannot afford it because they are struggling to survive. And there are many professions like this.
- To make it safe to go to a doctor and be sure that he gives you a prescription of what is going to help you and not just the one which costs more providing the physician and pharmacy with a bigger income.
- To be able to get a good education even if you are born in the remote village in the poorest family in the world.
- To stop worrying about losing your place to live.
- To gain a true freedom to be busy with the things that are interesting to you instead of wasting your skills on a job with a bigger salary, but requiring 10% of your knowledge and skills.
- To become a society of happy and truly free people living under economy, which optimizes the quality of life instead of profit.
- To make companies worry about customer satisfaction, instead of bigger profit. It is true that the current monetary setup provides an incentive for customer service to become better and better as a result of competition, but still, the profit is the first, the customer satisfaction comes as the secondary serendipity, instead of being the first primary goal.