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Are currency/monetary base economic systems coming to their logical end?

I get the history as to why we got to our current economic situations, but no one is arguing for a system that casts off current economic issues that are pushing humanity towards destruction. I’m not saying this can happen over night or even within our current life time, but it’s obvious that capitalism and even socialism has reached the end of their usefulness.

marcos ,

The idea that social structures have a “logical end” is pure hubris and have no basis on reality.

originalucifer ,
@originalucifer@moist.catsweat.com avatar

no

Steve ,

It really is the most efficient way to manage and trade scarce resources. Going back to a barter system wouldn’t be possible with the size and scope of a global economy.

BlameThePeacock ,

Capitalism is fine, we just need to tweak regulations for it to better incentivize the result we (humanity) are looking for.

Apepollo11 ,

I wish I had your confidence that capitalism can be tweaked into a fair system.

I honestly think the logical end point to capitalism is self-destructive extreme wealth disparity.

Steve ,

It works in cycles.

The last Guilded Age (think Roaring 20s) ended with the great depression. Which then triggered the creation of all the great economic policies the boomers enjoyed as children, which they’ve been dismantling since the 70s.

Once things get bad enough, (very nearly there now) the cycle will repeat.

Gradually_Adjusting ,
@Gradually_Adjusting@lemmy.world avatar

Their usefulness to whom

Humans are not known for solving problems on time

deegeese ,

Not until we reach a post-scarcity society.

NatakuNox OP ,
@NatakuNox@lemmy.world avatar

We’re already there. The only thing preventing it is tribalism and the world oligarchs. We have the knowledge and capabilities, just not the willingness.

deegeese ,

Hohoho we are very far from post scarcity. Read any newspaper.

Steve ,

I’m not sure you know what post scarcity means.

Imagine a world where nobody needs to work, but everyone can still have any material desire filled at any time.

Think Star Trek. Unlimited energy resources, combined with replicators which use that endless energy to create unlimited stuff without any labor required.

degen ,

It’s also important to note that a lot of that scarcity is artificial. Sure, we’re far from post scarcity, but strife is exacerbated by capitalist systems in all but the most privileged.

neidu2 , (edited )

No.

First we need a better system for resource allocation. Monetary systems are extremely inefficient, but it is far better than the “trust me, bro” approach of many of the alternatives.

A global post-scarcity society could in theory take over, similar to how it works in Star Trek, but there are a lot of other hurdles that need to be overcome first.

As long as proper distribution of resources requires an effort, it will also need an incentive to do so. Currently this is provided by having a profit margin, and while this does also provide a mechanism for skimming off the top, at least said skimming can be somewhat controlled by a free market ensuring better circumstances for those willing to skim less.

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