Through abundance it will defeat itself by working too well. Approaching full automation the only way for capitalism to survive is via UBI, otherwise there will be no consumer markets. When we have enough productive capacity and sufficient UBI that everyone is wealthy without having to work, a society like the Federation from Star Trek becomes possible. When everyone has enough wealth that hoarding it becomes meaningless, we might achieve something like a communist society.
“Hoarding” or controlling resources will be always meaningful. There is limited amount of accessible matter, and even if all basic needs of every human is satisfied, people have inspirations to do things, including BIG things, and for that they need resources. The only way we might have something like communist society is if AI takes control, and no human is controlling anything of a value. Kind of like a “Culture” series of books by M. Banks. Or if we go completely virtual, but even then, the computation resource is of the value…
Through abundance it will defeat itself by working too well. Approaching full automation the only way for capitalism to survive is via UBI, otherwise there will be no consumer markets. When we have enough productive capacity and sufficient UBI that everyone is wealthy without having to work, a society like the Federation from Star Trek becomes possible. When everyone has enough wealth that hoarding it becomes meaningless, we might achieve something like a communist society.
“Hoarding” or controlling resources will be always meaningful. There is limited amount of accessible matter, and even if all basic needs of every human is satisfied, people have inspirations to do things, including BIG things, and for that they need resources. The only way we might have something like communist society is if AI takes control, and no human is controlling anything of a value. Kind of like a “Culture” series of books by M. Banks. Or if we go completely virtual, but even then, the computation resource is of the value…