Basic Intro of the article
We have seen that money is the most important part of our society. In Human civilization, money has been the vital source to operate the society. In ancient days gold was a direct form of money. On the contrary, there were also practices of barter, which obviously didn’t involve any form of money. I wonder if we should remove all monetary systems and ask people to adopt a barter system!. How chaotic would it become today ;)
We now have paper money accompanied by various digital forms. Will money ever go out would be a billion-dollar question, yet this article will reflect my understanding of the possibility of creating a society without money.
Why do we need an economic system?
As human beings are social beings, it’s very important to create some social system. The social system makes it easier to live life as we can create social dependencies among one another. One person may generate/create things that another person may need/desire. We can have ways to attain the creation of one and even take/purchase services/products that one creates.
Now we need a common system where all people can rely on. So metal(primarily gold) was one form that was most suitable in ancient ages for trade. When modern society evolved it had multiple requirements. We now not only strive to live rather we are looking for ways to look up to the sky and reach those planets. So, more money is required and such an economic system is required where a person sitting in one country can purchase things from any location around the world.
What is money in terms of value?
Everyone knows the meaning of money. Here I am going to highlight money from the perspective of value generation. Let’s say a farmer grows vegetables and investment to yield the particular set of crops is 20,000 which covers the seed, fertilizers, etc. Let’s imagine He put in 8 hrs of effort daily. Now If he sells crops for 30,000, 10,000 would be the value generation on part of work. Let’s again say the seller who bought it from the farmer sells it for 35,000. Now value generation on selling is 5000. Now people who buy and consume will pay for all the efforts made till it reaches them. We can clearly see the value generation occurred when things were traded/not consumed.
Challenge and Possibilities to create a society without money
It’s very hard to imagine a society without money but there is a possibility. In the above section, we clearly saw the initial investment and value generation.
As part of the investment, it’s a resource. If we can create a system where all resources are free of cost then we can imagine a society without money. The creation of resources should be recurring and self-sustainable.
Also, on part of the value, let’s say we can deploy something in the work field which doesn’t take any value. If all services can be created for free then we can imagine a society without any money.
Consumption is natural. If every resource in society can be created for free and recurring, then we can imagine a society without money.
We determine value with time, effort, and leverage that can be addressed. By leverage, I mean the capacity to build resources. In capitalism, a person with more capital is always on leverage. So, if we can create a society without the need for capital, obviously we can imagine a society without money.
Society without money
To create a society without money following things can be really important:
a) Creation of free energy
A free energy source with zero maintenance(It can have recurring maintenance with zero costs) is required. Breakthroughs in fusion energy and solar energy can be important. Let’s say we had batteries that could last thousands of years without any wear-down and the cost of such batteries is nominal, one setup of solar would create free energy for generations. Similarly, fusion energy could yield similar results.
b) Creation of free workforce for free value
I personally think technology can lead to trace possibilities. We would need a workforce that doesn’t have to be paid but will work continuously. Breakthrough in Robotics can be the solution for this problem. Humans can have the option to work voluntarily.
c) Controlled population
Resources are always going to be limited. We can scale it if necessary but in the end, it will set a new limit but it’s hard to imagine unlimited resources. It’s very important to create consumption as per the creation of resources. If all the above things are created the population should be lower or equal to the creation of free resources.
d) Introduction to the new economic system
If a) to c) are fulfilled now new rules need to be set. Individual limitations to consuming free resources daily should be set so that creation and consumption are always in balance.
What kind of society will we be living in which doesn’t involve money?
If we become able to create a society without money, humans will probably be on vacation from birth to death. Humans will have just one responsibility to live. Would you want to be that part of society where you have nothing to do other than living? You can follow hobbies but there won’t be any career as everything needs to be already in place.
Possibly, we can walk to any restaurant and eat whatever thing we want to eat which is fully served by robots. We can jump into any vehicle and travel anywhere.
Why is the economic system with money a jewel to the social system?
In the above article, we saw the creation of a system with the removal of humans from the workforce system. As each human is unique with varying capacity of intelligence, emotions, the energy it creates different levels of capacity to earn so money works so well. Intelligent people with hard-working capacity tend to earn more and others fall behind. Isn’t it beautiful that we ourselves have the power to excel in the social system?
This article is intended to highlight the importance of money rather than encouraging people to create a society without money.
Hope it was insightful!