At some point in the future, probably at some point in the next 50-years, none of us will be using physical money; paper currency or coin. I think we all see the writing on the wall when it comes to this. Now then, let’s take it a step further and say; there will be many countries, cultures, and societies that give up the use of money, even digital or electronic money all together. Let’s discuss this think tank topic for a moment.
While it is true that a world without money may be more efficient, most other models show it to be less efficient (so far). Some say “Money is the Root of All Evil” and they say humans wouldn’t have so many wars, or stealing and thievery if money did not exist – but is that so? Indeed, stealing is inherent in all species. Mammals steal and eat eggs, predators steal babies of other species to eat, birds steal each-others food. If people “own” things that others need they will take it. Organisms do the least to get the most (while conserving energy), viruses hijack cells, bacteria feeds off host, that’s how life works. And ethical debates aside, along with risk-reward, selfishness vs. advantages of the herd – there are reasons for all of it, and those roots go back to the building blocks of life itself.
Without money there will still be wars, poverty (if everything is equal, everyone is poor, no incentive for abundance or efficiency). There would still be disease, but if we allow capitalism and abundance to give us the cognitive surplus, we can surely defeat disease within the human body with focused research. Likewise we will be able to predict and control the weather – order rain for an agricultural region next Monday, Wednesday, and Friday at 5 PM for instance. Many of the things we care about we can fix.
If we get rid of money what about the financial sector; banks, etc. will all those jobs disappear? Well, jobs in banking, insurance, financial planning, will all be eliminated soon with AI, they are as good as gone. Did you also want to give rewards to people who work out, use their brains, learn new things, solve problems, mentor, teach, or run the civilization, it used to take 30% of the people to run the civilization; trash, police, fire, etc. today, only 4% of the people – so what does everyone else do? Frolic around like an episode of Star Trek? Please consider all this.