for centuries the global economy has been subject to the indecisiveness of
been subject to the indecisiveness of
been subject to the indecisiveness of mankind we’ve come from bartering sheep
mankind we’ve come from bartering sheep
mankind we’ve come from bartering sheep for vegetables to an intricately
for vegetables to an intricately
for vegetables to an intricately connected network of international trade
connected network of international trade
connected network of international trade and currently the forces of demand and
and currently the forces of demand and
and currently the forces of demand and supply determine our resources are
supply determine our resources are
supply determine our resources are allocated in an economy and it does is
allocated in an economy and it does is
allocated in an economy and it does is admirably with an invisible hand as the
admirably with an invisible hand as the
admirably with an invisible hand as the economy as the economist Adam Smith put
economy as the economist Adam Smith put
economy as the economist Adam Smith put it somehow seamlessly integrating the
it somehow seamlessly integrating the
it somehow seamlessly integrating the ones in the consumer with the producer
ones in the consumer with the producer
ones in the consumer with the producer now let’s think about how the economy is
now let’s think about how the economy is
now let’s think about how the economy is actually evolved over the last few
actually evolved over the last few
actually evolved over the last few centuries the roots of today’s
centuries the roots of today’s
centuries the roots of today’s materialism can be traced back to the 18
materialism can be traced back to the 18
materialism can be traced back to the 18 and 1900s when the Industrial Revolution
and 1900s when the Industrial Revolution
and 1900s when the Industrial Revolution caused the massive boom in production in
caused the massive boom in production in
caused the massive boom in production in Europe and America but this then led to
Europe and America but this then led to
Europe and America but this then led to a massive disparity in income and living
a massive disparity in income and living
a massive disparity in income and living standards between your workers and the
standards between your workers and the
standards between your workers and the entrepreneurs which in turn led to the
entrepreneurs which in turn led to the
entrepreneurs which in turn led to the popular sentiment shifting towards
popular sentiment shifting towards
popular sentiment shifting towards communism and this is when Karl Marx
communism and this is when Karl Marx
communism and this is when Karl Marx proposed that the next big change in the
proposed that the next big change in the
proposed that the next big change in the global economy would be a radical
global economy would be a radical
global economy would be a radical revolution that would end in a communal
revolution that would end in a communal
revolution that would end in a communal society with central planning and shared
society with central planning and shared
society with central planning and shared resources he proposed the idea of
resources he proposed the idea of
resources he proposed the idea of historical materialism which essentially
historical materialism which essentially
historical materialism which essentially suggests that capitalism in the free
suggests that capitalism in the free
suggests that capitalism in the free market were inherently unstable and had
market were inherently unstable and had
market were inherently unstable and had the seeds of its own destruction yet
the seeds of its own destruction yet
the seeds of its own destruction yet it’s quite obvious that the world didn’t
it’s quite obvious that the world didn’t
it’s quite obvious that the world didn’t take that route and communism has failed
take that route and communism has failed
take that route and communism has failed over time and what we can implicitly
over time and what we can implicitly
over time and what we can implicitly understand from history is that market
understand from history is that market
understand from history is that market failures and the inherent contradictions
failures and the inherent contradictions
failures and the inherent contradictions of the market system will not
of the market system will not
of the market system will not necessarily spell doom for itself it
necessarily spell doom for itself it
necessarily spell doom for itself it does however require an evolution rather
does however require an evolution rather
does however require an evolution rather than a revolution if it is to withstand
than a revolution if it is to withstand
than a revolution if it is to withstand the test of time so this begs the
the test of time so this begs the
the test of time so this begs the question will the free market exists in
question will the free market exists in
question will the free market exists in its current form forever in a world
its current form forever in a world
its current form forever in a world where we have hyperinflation
where we have hyperinflation
where we have hyperinflation deflationary spiral spiral unemployment
deflationary spiral spiral unemployment
deflationary spiral spiral unemployment and massive income disparities it’s
and massive income disparities it’s
and massive income disparities it’s quite obvious that the market has failed
quite obvious that the market has failed
quite obvious that the market has failed and our effects and our efforts to
and our effects and our efforts to
and our effects and our efforts to correct it are in vain newly creating a
correct it are in vain newly creating a
correct it are in vain newly creating a new problem as we tuck away the old one
new problem as we tuck away the old one
new problem as we tuck away the old one in an endless game of whack-a-mole now
in an endless game of whack-a-mole now
in an endless game of whack-a-mole now economic theory presents an interesting
economic theory presents an interesting
economic theory presents an interesting argument against the way we currently
argument against the way we currently
argument against the way we currently use resources it’s called the tragedy of
use resources it’s called the tragedy of
use resources it’s called the tragedy of the Commons now the basic premise is
the Commons now the basic premise is
the Commons now the basic premise is that we tend to over exploit those
that we tend to over exploit those
that we tend to over exploit those restore
restore
restore that aren’t owned by anyone in order to
that aren’t owned by anyone in order to
that aren’t owned by anyone in order to maximize our personal gain but in doing
maximize our personal gain but in doing
maximize our personal gain but in doing so we actually reduce the utility of
so we actually reduce the utility of
so we actually reduce the utility of that resource for the next person
that resource for the next person
that resource for the next person looking to consuming and this is
looking to consuming and this is
looking to consuming and this is precisely how we’ve managed to use more
precisely how we’ve managed to use more
precisely how we’ve managed to use more of our resources in the last 200 years
of our resources in the last 200 years
of our resources in the last 200 years than in the rest of the history of
than in the rest of the history of
than in the rest of the history of planet Earth combined in this endless
planet Earth combined in this endless
planet Earth combined in this endless rat race but more importantly the
rat race but more importantly the
rat race but more importantly the biggest failure of the free market today
biggest failure of the free market today
biggest failure of the free market today albeit subtle is allocated inefficiency
albeit subtle is allocated inefficiency
albeit subtle is allocated inefficiency modern economics fails to create the
modern economics fails to create the
modern economics fails to create the right conditions for what i like to call
right conditions for what i like to call
right conditions for what i like to call real scientific growth something that’s
real scientific growth something that’s
real scientific growth something that’s far greater in value than just monetary
far greater in value than just monetary
far greater in value than just monetary growth and it’s this inefficiency that
growth and it’s this inefficiency that
growth and it’s this inefficiency that I’ll be addressing for the most part
I’ll be addressing for the most part
I’ll be addressing for the most part today because at the end of the day the
today because at the end of the day the
today because at the end of the day the system we live in is flow but we can’t
system we live in is flow but we can’t
system we live in is flow but we can’t see it because it’s all we know and all
see it because it’s all we know and all
see it because it’s all we know and all that we’ve been exposed to so let’s take
that we’ve been exposed to so let’s take
that we’ve been exposed to so let’s take a step back what if we redesign society
a step back what if we redesign society
a step back what if we redesign society from scratch what if we redefine
from scratch what if we redefine
from scratch what if we redefine economics and human behavior to reduce
economics and human behavior to reduce
economics and human behavior to reduce the more conducive environment for
the more conducive environment for
the more conducive environment for scientific growth taking a technology
scientific growth taking a technology
scientific growth taking a technology innovation and the betterment of the
innovation and the betterment of the
innovation and the betterment of the human race in general today we use money
human race in general today we use money
human race in general today we use money to fuel our economic activity as a
to fuel our economic activity as a
to fuel our economic activity as a parameter of exchange but when you
parameter of exchange but when you
parameter of exchange but when you really think about it money and essence
really think about it money and essence
really think about it money and essence is a skewing influence in the sense that
is a skewing influence in the sense that
is a skewing influence in the sense that I tends to dilute or exaggerate the real
I tends to dilute or exaggerate the real
I tends to dilute or exaggerate the real value of a commodity now what do I mean
value of a commodity now what do I mean
value of a commodity now what do I mean by this let’s consider a bit of an
by this let’s consider a bit of an
by this let’s consider a bit of an oversimplified girl world example to
oversimplified girl world example to
oversimplified girl world example to illustrate what do you think is more
illustrate what do you think is more
illustrate what do you think is more important scoring a goal or curing
important scoring a goal or curing
important scoring a goal or curing cancer now which you think is valued
cancer now which you think is valued
cancer now which you think is valued more financially equal guess the average
more financially equal guess the average
more financially equal guess the average pay of the football player in the
pay of the football player in the
pay of the football player in the English Premier League comes in at
English Premier League comes in at
English Premier League comes in at around eighty thousand US dollars a week
around eighty thousand US dollars a week
around eighty thousand US dollars a week in comparison top-notch postdoctoral
in comparison top-notch postdoctoral
in comparison top-notch postdoctoral cancer research scientists make less
cancer research scientists make less
cancer research scientists make less than half of that a year now as much as
than half of that a year now as much as
than half of that a year now as much as I love football and although the whole
I love football and although the whole
I love football and although the whole scenario might sound a little cliche the
scenario might sound a little cliche the
scenario might sound a little cliche the point is that the gross contribution
point is that the gross contribution
point is that the gross contribution society of to society of the latter is
society of to society of the latter is
society of to society of the latter is exponentially greater but it’s the
exponentially greater but it’s the
exponentially greater but it’s the former that is very incentivized
former that is very incentivized
former that is very incentivized financially the current system only
financially the current system only
financially the current system only accounts for popular demand but they’re
accounts for popular demand but they’re
accounts for popular demand but they’re very large extent neglects actual social
very large extent neglects actual social
very large extent neglects actual social welfare game and this is something that
welfare game and this is something that
welfare game and this is something that will
will
will have to change afraid of progress in the
have to change afraid of progress in the
have to change afraid of progress in the future because as we approach the
future because as we approach the
future because as we approach the technological singularity which is a
technological singularity which is a
technological singularity which is a term used to describe a point in time
term used to describe a point in time
term used to describe a point in time when machine intelligence rivals human
when machine intelligence rivals human
when machine intelligence rivals human lg’s in other words the time of extra
lg’s in other words the time of extra
lg’s in other words the time of extra extraordinary technological ability
extraordinary technological ability
extraordinary technological ability there will come a time when we must
there will come a time when we must
there will come a time when we must ditch the monetary economic system in
ditch the monetary economic system in
ditch the monetary economic system in the hopes of something better something
the hopes of something better something
the hopes of something better something more efficient and something more suited
more efficient and something more suited
more efficient and something more suited to the time we live in because today’s
to the time we live in because today’s
to the time we live in because today’s system prioritizes nominal demand over
system prioritizes nominal demand over
system prioritizes nominal demand over actual societal game and this is its
actual societal game and this is its
actual societal game and this is its biggest flaw we can’t solve problems by
biggest flaw we can’t solve problems by
biggest flaw we can’t solve problems by using the same kind of thinking we used
using the same kind of thinking we used
using the same kind of thinking we used when we created them words by Einstein
when we created them words by Einstein
when we created them words by Einstein that are often coded yet rarely
that are often coded yet rarely
that are often coded yet rarely practiced discussing some conceptual
practiced discussing some conceptual
practiced discussing some conceptual radical new economy doesn’t make sense
radical new economy doesn’t make sense
radical new economy doesn’t make sense in an economy that’s going to be based
in an economy that’s going to be based
in an economy that’s going to be based on axioms of demand and supply and money
on axioms of demand and supply and money
on axioms of demand and supply and money so all that I ask is that we put aside
so all that I ask is that we put aside
so all that I ask is that we put aside our pre-existing notions of social
our pre-existing notions of social
our pre-existing notions of social function and let me consider asking can
function and let me consider asking can
function and let me consider asking can the system in its could current form
the system in its could current form
the system in its could current form ever achieve sustainable growth and with
ever achieve sustainable growth and with
ever achieve sustainable growth and with an alternative be any better than the
an alternative be any better than the
an alternative be any better than the one we have now the fact of the matter
one we have now the fact of the matter
one we have now the fact of the matter is the issues caused by the way we
is the issues caused by the way we
is the issues caused by the way we currently going but go about doing
currently going but go about doing
currently going but go about doing things will become blatantly apparent in
things will become blatantly apparent in
things will become blatantly apparent in the near future and we will face a host
the near future and we will face a host
the near future and we will face a host of challenges very soon energy will
of challenges very soon energy will
of challenges very soon energy will become our greatest pressing concern as
become our greatest pressing concern as
become our greatest pressing concern as we continue to deplete our reserves of
we continue to deplete our reserves of
we continue to deplete our reserves of fossil fuels but even scarier are the
fossil fuels but even scarier are the
fossil fuels but even scarier are the prospects of running out of food thanks
prospects of running out of food thanks
prospects of running out of food thanks to overpopulation drastic climate change
to overpopulation drastic climate change
to overpopulation drastic climate change due to global memory and even the
due to global memory and even the
due to global memory and even the prospect of Earth’s becoming
prospect of Earth’s becoming
prospect of Earth’s becoming uninhabitable this isn’t science fiction
uninhabitable this isn’t science fiction
uninhabitable this isn’t science fiction this just could be a reality at some
this just could be a reality at some
this just could be a reality at some point in the future the biggest issue we
point in the future the biggest issue we
point in the future the biggest issue we currently face though is a sheer lack of
currently face though is a sheer lack of
currently face though is a sheer lack of fundamental research often we hear the
fundamental research often we hear the
fundamental research often we hear the words exponential growth of technologies
words exponential growth of technologies
words exponential growth of technologies thrown around and yes there is
thrown around and yes there is
thrown around and yes there is exponential growth but you really have
exponential growth but you really have
exponential growth but you really have to ask growth towards what today the
to ask growth towards what today the
to ask growth towards what today the amount of funding that goes into making
amount of funding that goes into making
amount of funding that goes into making your iPhone thinner every year is
your iPhone thinner every year is
your iPhone thinner every year is unbelievably greater than the amount of
unbelievably greater than the amount of
unbelievably greater than the amount of funding that goes into say stopping
funding that goes into say stopping
funding that goes into say stopping climate change or developing an
climate change or developing an
climate change or developing an effective solution to the impending
effective solution to the impending
effective solution to the impending energy crisis and here are some
energy crisis and here are some
energy crisis and here are some statistics to give you an idea of just
statistics to give you an idea of just
statistics to give you an idea of just how this proportion of this disparity
how this proportion of this disparity
how this proportion of this disparity investment really is the
investment really is the
investment really is the you annually spends around 12 and a half
you annually spends around 12 and a half
you annually spends around 12 and a half u.s. dollars per capita on research and
u.s. dollars per capita on research and
u.s. dollars per capita on research and development for rural energy solutions
development for rural energy solutions
development for rural energy solutions in comparison the EU spends around two
in comparison the EU spends around two
in comparison the EU spends around two thousand seven hundred dollars per
thousand seven hundred dollars per
thousand seven hundred dollars per capita on energy expenditure itself
capita on energy expenditure itself
capita on energy expenditure itself including fueling their cars homes and
including fueling their cars homes and
including fueling their cars homes and factories the amount of funding that
factories the amount of funding that
factories the amount of funding that goes into the energy industry is less
goes into the energy industry is less
goes into the energy industry is less than a pitiful 0.5% of expenditure and
than a pitiful 0.5% of expenditure and
than a pitiful 0.5% of expenditure and as you can clearly see this just isn’t a
as you can clearly see this just isn’t a
as you can clearly see this just isn’t a sustainable model meanwhile Apple
sustainable model meanwhile Apple
sustainable model meanwhile Apple incorporated own spent two and a half
incorporated own spent two and a half
incorporated own spent two and a half billion dollars last quarter on the
billion dollars last quarter on the
billion dollars last quarter on the research and development of the new
research and development of the new
research and development of the new iphone 7 that’s just one company in the
iphone 7 that’s just one company in the
iphone 7 that’s just one company in the span of three months as opposed to a
span of three months as opposed to a
span of three months as opposed to a whole trading block over a whole year
whole trading block over a whole year
whole trading block over a whole year and those two numbers shouldn’t be
and those two numbers shouldn’t be
and those two numbers shouldn’t be remotely close to each other the point
remotely close to each other the point
remotely close to each other the point is we have started prioritizing Gurgeh
is we have started prioritizing Gurgeh
is we have started prioritizing Gurgeh nomics / fundamentals and so today today
nomics / fundamentals and so today today
nomics / fundamentals and so today today the majority of our resource is going to
the majority of our resource is going to
the majority of our resource is going to funk fueling consumption rather than
funk fueling consumption rather than
funk fueling consumption rather than fuelling the development of relevant
fuelling the development of relevant
fuelling the development of relevant progressive technology but if we did
progressive technology but if we did
progressive technology but if we did increase our focus on the development of
increase our focus on the development of
increase our focus on the development of useful technology it could potentially
useful technology it could potentially
useful technology it could potentially open up the doors to a plethora of
open up the doors to a plethora of
open up the doors to a plethora of solutions to the aforementioned
solutions to the aforementioned
solutions to the aforementioned existential crisis think about it given
existential crisis think about it given
existential crisis think about it given the right conditions startup
the right conditions startup
the right conditions startup technologies like nuclear fusion
technologies like nuclear fusion
technologies like nuclear fusion reactors that could produce several
reactors that could produce several
reactors that could produce several times more energy than our conventional
times more energy than our conventional
times more energy than our conventional fission reactors or asteroid mining for
fission reactors or asteroid mining for
fission reactors or asteroid mining for rare earth resources or perhaps even
rare earth resources or perhaps even
rare earth resources or perhaps even colonizing another planet all these
colonizing another planet all these
colonizing another planet all these next-generation technologies and ideas
next-generation technologies and ideas
next-generation technologies and ideas could be viable given the right economic
could be viable given the right economic
could be viable given the right economic environment the problem is today system
environment the problem is today system
environment the problem is today system doesn’t allocate nearly enough resources
doesn’t allocate nearly enough resources
doesn’t allocate nearly enough resources to solving these existential issues in
to solving these existential issues in
to solving these existential issues in comparison to the migra mechanical
comparison to the migra mechanical
comparison to the migra mechanical activities that human beings will soon
activities that human beings will soon
activities that human beings will soon be above the status quo does enable
be above the status quo does enable
be above the status quo does enable remarkable technological growth but
remarkable technological growth but
remarkable technological growth but perhaps it’s starting to go in the wrong
perhaps it’s starting to go in the wrong
perhaps it’s starting to go in the wrong direction and addressing these concerns
direction and addressing these concerns
direction and addressing these concerns is essential if we’re to survive for the
is essential if we’re to survive for the
is essential if we’re to survive for the long haul on this planet or even
long haul on this planet or even
long haul on this planet or even elsewhere because failure to do so could
elsewhere because failure to do so could
elsewhere because failure to do so could result in a world that’s ravaged by
result in a world that’s ravaged by
result in a world that’s ravaged by hyperinflation ludacris scarcity and a
hyperinflation ludacris scarcity and a
hyperinflation ludacris scarcity and a chaotic society so can we design a
chaotic society so can we design a
chaotic society so can we design a system that’s based on actual human
system that’s based on actual human
system that’s based on actual human needs rather than on the economic
needs rather than on the economic
needs rather than on the economic preconditions that they’re very large
preconditions that they’re very large
preconditions that they’re very large extent determine what our needs and
extent determine what our needs and
extent determine what our needs and wants are today I say think globally but
wants are today I say think globally but
wants are today I say think globally but could you slow
could you slow
could you slow the first step in getting rid of the
the first step in getting rid of the
the first step in getting rid of the inefficiency in the current system
inefficiency in the current system
inefficiency in the current system promotes is to get over our infatuation
promotes is to get over our infatuation
promotes is to get over our infatuation infatuation for a hyper globalised
infatuation for a hyper globalised
infatuation for a hyper globalised economy globalization is a good thing
economy globalization is a good thing
economy globalization is a good thing but not beyond a certain extent i bought
but not beyond a certain extent i bought
but not beyond a certain extent i bought this sweater from bershka the spanish
this sweater from bershka the spanish
this sweater from bershka the spanish own company made from wool that came
own company made from wool that came
own company made from wool that came from New Zealand that is then sent to
from New Zealand that is then sent to
from New Zealand that is then sent to China for fabrication and finally ship
China for fabrication and finally ship
China for fabrication and finally ship halfway across the world so that I can
halfway across the world so that I can
halfway across the world so that I can keep warm in the sweltering heat of the
keep warm in the sweltering heat of the
keep warm in the sweltering heat of the Arabian desert sounds a little absurd
Arabian desert sounds a little absurd
Arabian desert sounds a little absurd when you actually say it out loud
when you actually say it out loud
when you actually say it out loud doesn’t it although a global consumerist
doesn’t it although a global consumerist
doesn’t it although a global consumerist culture may be entertaining it’s gross
culture may be entertaining it’s gross
culture may be entertaining it’s gross be wasteful and far from ideal and if
be wasteful and far from ideal and if
be wasteful and far from ideal and if you were to ever reach anywhere close to
you were to ever reach anywhere close to
you were to ever reach anywhere close to an ideal post-scarcity scenario then the
an ideal post-scarcity scenario then the
an ideal post-scarcity scenario then the first step is to use the resources we do
first step is to use the resources we do
first step is to use the resources we do have optimally thus think globally what
have optimally thus think globally what
have optimally thus think globally what should be globalized this technology
should be globalized this technology
should be globalized this technology itself things like patience and
itself things like patience and
itself things like patience and scientific resources that in the long
scientific resources that in the long
scientific resources that in the long run will allow us to produce whatever we
run will allow us to produce whatever we
run will allow us to produce whatever we need and want with the inherited
need and want with the inherited
need and want with the inherited resources available locally while we
resources available locally while we
resources available locally while we continue to grow globally as a sum of
continue to grow globally as a sum of
continue to grow globally as a sum of several partially self-sustaining
several partially self-sustaining
several partially self-sustaining communities and this is already starting
communities and this is already starting
communities and this is already starting to happen today there’s an increasing
to happen today there’s an increasing
to happen today there’s an increasing global trend towards trade protectionism
global trend towards trade protectionism
global trend towards trade protectionism and the globalisation over the last few
and the globalisation over the last few
and the globalisation over the last few decades we’ve seen a paradigm shift in
decades we’ve seen a paradigm shift in
decades we’ve seen a paradigm shift in the fundamental way we use resources
the fundamental way we use resources
the fundamental way we use resources ownership is slowly starting to make way
ownership is slowly starting to make way
ownership is slowly starting to make way towards and increased reliance on
towards and increased reliance on
towards and increased reliance on rentals and the sharing economy such as
rentals and the sharing economy such as
rentals and the sharing economy such as your uber and Airbnb so I think this is
your uber and Airbnb so I think this is
your uber and Airbnb so I think this is just a sign of things to come but the
just a sign of things to come but the
just a sign of things to come but the next step being a complete change in how
next step being a complete change in how
next step being a complete change in how we own use and allocate resources in the
we own use and allocate resources in the
we own use and allocate resources in the future so how would a conceptual economy
future so how would a conceptual economy
future so how would a conceptual economy actually arise from what we have today
actually arise from what we have today
actually arise from what we have today the futurist economy is starkly
the futurist economy is starkly
the futurist economy is starkly different from the status quo although
different from the status quo although
different from the status quo although it’s somewhat enabled by it what today’s
it’s somewhat enabled by it what today’s
it’s somewhat enabled by it what today’s technology does exceptionally well is
technology does exceptionally well is
technology does exceptionally well is automation eventually machines will
automation eventually machines will
automation eventually machines will replace human beings in most mechanical
replace human beings in most mechanical
replace human beings in most mechanical work it’s innovate in that inevitable
work it’s innovate in that inevitable
work it’s innovate in that inevitable now in such a situation where does that
now in such a situation where does that
now in such a situation where does that leave us when we have the development of
leave us when we have the development of
leave us when we have the development of things like self-replicating robots nano
things like self-replicating robots nano
things like self-replicating robots nano factories quantum computers and strong
factories quantum computers and strong
factories quantum computers and strong artificial intelligence
artificial intelligence
artificial intelligence these things will take care of
these things will take care of
these things will take care of production processes and rational
production processes and rational
production processes and rational decision-making in the most efficient
decision-making in the most efficient
decision-making in the most efficient way possible which means goods and
way possible which means goods and
way possible which means goods and services will be plentiful in such a
services will be plentiful in such a
services will be plentiful in such a scenario human beings role has changed
scenario human beings role has changed
scenario human beings role has changed from merely being producers and workers
from merely being producers and workers
from merely being producers and workers to be creators designers and innovators
to be creators designers and innovators
to be creators designers and innovators because these are traits of the human
because these are traits of the human
because these are traits of the human brain that cannot be emulated by any
brain that cannot be emulated by any
brain that cannot be emulated by any machine no matter how complicated going
machine no matter how complicated going
machine no matter how complicated going towards such a futurist society is much
towards such a futurist society is much
towards such a futurist society is much like a rocket leaving for outer space in
like a rocket leaving for outer space in
like a rocket leaving for outer space in order to overcome the Earth’s
order to overcome the Earth’s
order to overcome the Earth’s gravitational field a significant amount
gravitational field a significant amount
gravitational field a significant amount of fuel is required but once it reaches
of fuel is required but once it reaches
of fuel is required but once it reaches escape velocity it’s practically
escape velocity it’s practically
escape velocity it’s practically self-sufficient likewise reaching such a
self-sufficient likewise reaching such a
self-sufficient likewise reaching such a high degree of economic or social
high degree of economic or social
high degree of economic or social evolution may well require a significant
evolution may well require a significant
evolution may well require a significant investment in technology today and a
investment in technology today and a
investment in technology today and a large restructuring of the very
large restructuring of the very
large restructuring of the very fundamentals of economics as we know it
fundamentals of economics as we know it
fundamentals of economics as we know it but if and when we do get there it’s a
but if and when we do get there it’s a
but if and when we do get there it’s a whole new world with infinite
whole new world with infinite
whole new world with infinite possibilities that we can only begin to
possibilities that we can only begin to
possibilities that we can only begin to fathom people can’t be the both their
fathom people can’t be the both their
fathom people can’t be the both their lives through activities devoted decided
lives through activities devoted decided
lives through activities devoted decided by the forces of the market often with
by the forces of the market often with
by the forces of the market often with perverse financial incentives in a world
perverse financial incentives in a world
perverse financial incentives in a world where goods and services are plentiful
where goods and services are plentiful
where goods and services are plentiful and the mark is automated human
and the mark is automated human
and the mark is automated human cognitive ability which is our greatest
cognitive ability which is our greatest
cognitive ability which is our greatest useless at the end of the day can be
useless at the end of the day can be
useless at the end of the day can be devoted to activities in line with
devoted to activities in line with
devoted to activities in line with resolving existential issues or to the
resolving existential issues or to the
resolving existential issues or to the development of relevant progressive
development of relevant progressive
development of relevant progressive technology now how would such a
technology now how would such a
technology now how would such a conceptual economy actually determined
conceptual economy actually determined
conceptual economy actually determined resource allocation how would a resource
resource allocation how would a resource
resource allocation how would a resource allocation mechanism work how do we
allocation mechanism work how do we
allocation mechanism work how do we decide who gets what and how does
decide who gets what and how does
decide who gets what and how does exchange actually take place because the
exchange actually take place because the
exchange actually take place because the convenient invisible hand of the free
convenient invisible hand of the free
convenient invisible hand of the free market doesn’t exist without price as a
market doesn’t exist without price as a
market doesn’t exist without price as a fundamental parameter this is where the
fundamental parameter this is where the
fundamental parameter this is where the wonderful world of artificial
wonderful world of artificial
wonderful world of artificial intelligence comes in now no one has
intelligence comes in now no one has
intelligence comes in now no one has better explained this actual scale of
better explained this actual scale of
better explained this actual scale of technological evolution better than
technological evolution better than
technological evolution better than Steve Jobs than it is 1997 keynote
Steve Jobs than it is 1997 keynote
Steve Jobs than it is 1997 keynote address so it’s only fair that I draw
address so it’s only fair that I draw
address so it’s only fair that I draw some viruses ideas in the early 1900’s
some viruses ideas in the early 1900’s
some viruses ideas in the early 1900’s an electric motor was considered a
an electric motor was considered a
an electric motor was considered a pinnacle of technological achievement
pinnacle of technological achievement
pinnacle of technological achievement there was one massive motor in every
there was one massive motor in every
there was one massive motor in every factory that provided the power for all
factory that provided the power for all
factory that provided the power for all this functions yet the electric motor
this functions yet the electric motor
this functions yet the electric motor got democratized into what we currently
got democratized into what we currently
got democratized into what we currently know as the fractional horsepower motor
know as the fractional horsepower motor
know as the fractional horsepower motor and today there are a few thousand
and today there are a few thousand
and today there are a few thousand motors in our homes from our washing
motors in our homes from our washing
motors in our homes from our washing machines to amplifiers the few dozen in
machines to amplifiers the few dozen in
machines to amplifiers the few dozen in your smartphone camera black guys if you
your smartphone camera black guys if you
your smartphone camera black guys if you told someone just 25 years ago that
told someone just 25 years ago that
told someone just 25 years ago that you’d have a spell supercomputer in the
you’d have a spell supercomputer in the
you’d have a spell supercomputer in the palm of your hand they would have
palm of your hand they would have
palm of your hand they would have probably lasted you artificial
probably lasted you artificial
probably lasted you artificial intelligence is the next big quantum
intelligence is the next big quantum
intelligence is the next big quantum leap in technology today it’s merely a
leap in technology today it’s merely a
leap in technology today it’s merely a concept and infancy but in the future it
concept and infancy but in the future it
concept and infancy but in the future it too will get democratized and
too will get democratized and
too will get democratized and programmable artificial intelligence for
programmable artificial intelligence for
programmable artificial intelligence for specific functions will be just as
specific functions will be just as
specific functions will be just as commonplace as a smart phones in your
commonplace as a smart phones in your
commonplace as a smart phones in your bubbles now in a state of such abundant
bubbles now in a state of such abundant
bubbles now in a state of such abundant advanced machine learning we can use
advanced machine learning we can use
advanced machine learning we can use algorithms of such a high degree of
algorithms of such a high degree of
algorithms of such a high degree of complexity to actually rationalize
complexity to actually rationalize
complexity to actually rationalize resource allocation and exchange based
resource allocation and exchange based
resource allocation and exchange based entirely on efficiency when we take the
entirely on efficiency when we take the
entirely on efficiency when we take the human element out of resource allocation
human element out of resource allocation
human element out of resource allocation in exchange and replace it with
in exchange and replace it with
in exchange and replace it with intelligent algorithms of such a high
intelligent algorithms of such a high
intelligent algorithms of such a high degree that we can only begin to fathom
degree that we can only begin to fathom
degree that we can only begin to fathom how they’d work and with data management
how they’d work and with data management
how they’d work and with data management software like block chain which is a
software like block chain which is a
software like block chain which is a whole other fed talk but then we
whole other fed talk but then we
whole other fed talk but then we actually remove the influence the
actually remove the influence the
actually remove the influence the skewing influence of societal factors
skewing influence of societal factors
skewing influence of societal factors because machines that are globally
because machines that are globally
because machines that are globally linked to each other have no emotional
linked to each other have no emotional
linked to each other have no emotional or financial incentives in essence they
or financial incentives in essence they
or financial incentives in essence they are perfect logicians and this is what
are perfect logicians and this is what
are perfect logicians and this is what makes them so ideal for a regional
makes them so ideal for a regional
makes them so ideal for a regional allocation mechanism in the first place
allocation mechanism in the first place
allocation mechanism in the first place because productive efficiency becomes a
because productive efficiency becomes a
because productive efficiency becomes a sole criteria for exchange for example
sole criteria for exchange for example
sole criteria for exchange for example if I as an entrepreneur wanted to start
if I as an entrepreneur wanted to start
if I as an entrepreneur wanted to start a solar panel business the AI that
a solar panel business the AI that
a solar panel business the AI that assists me would contact the AI that
assists me would contact the AI that
assists me would contact the AI that assists someone else’s vast factory and
assists someone else’s vast factory and
assists someone else’s vast factory and the most efficient producer would be
the most efficient producer would be
the most efficient producer would be selected conversely i would only receive
selected conversely i would only receive
selected conversely i would only receive the resources i needed if my production
the resources i needed if my production
the resources i needed if my production process was considered efficient enough
process was considered efficient enough
process was considered efficient enough by the Machine economy and yes this is a
by the Machine economy and yes this is a
by the Machine economy and yes this is a very isolated example but it illustrates
very isolated example but it illustrates
very isolated example but it illustrates the point and so the need for a
the point and so the need for a
the point and so the need for a parameter of exchange becomes obsolete
parameter of exchange becomes obsolete
parameter of exchange becomes obsolete as a result of this new partially
as a result of this new partially
as a result of this new partially technocratic free market we take what we
technocratic free market we take what we
technocratic free market we take what we demand from a fully automated market and
demand from a fully automated market and
demand from a fully automated market and supplier intellect towards productive
supplier intellect towards productive
supplier intellect towards productive activity now by doing so we aren’t
activity now by doing so we aren’t
activity now by doing so we aren’t giving everyone the same thing as we
giving everyone the same thing as we
giving everyone the same thing as we would in a centrally planned economy
would in a centrally planned economy
would in a centrally planned economy because that’s been tried before in vain
because that’s been tried before in vain
because that’s been tried before in vain and it’s failed what we are doing is
and it’s failed what we are doing is
and it’s failed what we are doing is using technology and computer software
using technology and computer software
using technology and computer software to rationalize resource
to rationalize resource
to rationalize resource and what we are doing is giving everyone
and what we are doing is giving everyone
and what we are doing is giving everyone equal access at least a much higher
equal access at least a much higher
equal access at least a much higher degree of access to technology that
degree of access to technology that
degree of access to technology that enables innovation now all this might
enables innovation now all this might
enables innovation now all this might sound too good to be true and quite
sound too good to be true and quite
sound too good to be true and quite frankly it is this is an experiment in
frankly it is this is an experiment in
frankly it is this is an experiment in thought and it’s a utopian idea and this
thought and it’s a utopian idea and this
thought and it’s a utopian idea and this conceptual economy would never be able
conceptual economy would never be able
conceptual economy would never be able to exist without the development of some
to exist without the development of some
to exist without the development of some assumptions for the most part it
assumptions for the most part it
assumptions for the most part it requires the Society of absolutely
requires the Society of absolutely
requires the Society of absolutely coherent memories because in order to
coherent memories because in order to
coherent memories because in order to have such a high degree of economic and
have such a high degree of economic and
have such a high degree of economic and social evolution everyone in society
social evolution everyone in society
social evolution everyone in society must have the end goal of society itself
must have the end goal of society itself
must have the end goal of society itself along with the road today we’re far from
along with the road today we’re far from
along with the road today we’re far from this we’re hardwired attack in our own
this we’re hardwired attack in our own
this we’re hardwired attack in our own our own self-interests and that’s just
our own self-interests and that’s just
our own self-interests and that’s just the way we are there will come a time
the way we are there will come a time
the way we are there will come a time when we realized that acting in the best
when we realized that acting in the best
when we realized that acting in the best interest of society will inexorably be
interest of society will inexorably be
interest of society will inexorably be the only way to act in our best
the only way to act in our best
the only way to act in our best interests to perhaps then we can consent
interests to perhaps then we can consent
interests to perhaps then we can consent the inherent limitations of the human
the inherent limitations of the human
the inherent limitations of the human condition after all today’s utopia is
condition after all today’s utopia is
condition after all today’s utopia is tomorrow’s reality as we continiously
tomorrow’s reality as we continiously
tomorrow’s reality as we continiously seen throughout history today we like to
seen throughout history today we like to
seen throughout history today we like to label things as idealistic and realistic
label things as idealistic and realistic
label things as idealistic and realistic but what you have to realize is that
but what you have to realize is that
but what you have to realize is that what we label is idealistic today they
what we label is idealistic today they
what we label is idealistic today they very well be the reality of the future a
very well be the reality of the future a
very well be the reality of the future a non-monetary technocratic free market
non-monetary technocratic free market
non-monetary technocratic free market may see me broken it might seem
may see me broken it might seem
may see me broken it might seem idealistic the some of you it might seem
idealistic the some of you it might seem
idealistic the some of you it might seem ridiculous and perhaps even scary but
ridiculous and perhaps even scary but
ridiculous and perhaps even scary but the least I can do is throw the idea out
the least I can do is throw the idea out
the least I can do is throw the idea out there and make you think about it what
there and make you think about it what
there and make you think about it what if what if this really is the next step
if what if this really is the next step
if what if this really is the next step in economic evolution the interesting
in economic evolution the interesting
in economic evolution the interesting question is would you rather stay where
question is would you rather stay where
question is would you rather stay where you are or would you embrace the change
you are or would you embrace the change
you are or would you embrace the change [Applause]
”
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