The world did not end. We simply found other things to do.
What will we do? Care more. Educate more. Entertain more. And yes, have more leisure.
Is that economically possible? Of course it is. Once needs are met – and if we act now they can be still – then what we do beyond need is our choice.
Consumer society has taken that away.
We can have it back.
So, more services and less manufacturing then. In an economy that is already 80% services and only 10% manufacturing.
Hey, we might even be there already.
Once needs are met – and if we act now they can be still – then what we do beyond need is our choice.
I’m guessing that he doesn’t think I’m the person who decides if and when my needs have been met?
Aye, we exported all the manufacturing to where you canna see the smoke.
Therefore it doesn’t exist.
We then buy the goods so made with borrowed money and ship it round the world to us.
What could go wrong?
Knock knock. The bailiff’s at the door, and he’s speaking Chinese!
The rest of the post is even better:
n summary, it’s not that we will give up living. It’s not that need will not be met. But we will give up consuming as much, and at the same time we will do more for each other, and pay each other for it.
How will we pay? As now, we will use money.
Where will the money come from? It’s just a promise to pay. Its value is wholly unrelated to what we promise to pay for.
Where does value come from? From the quality of what is provided.
Will there be markets in this? Of course, just as there are now for entertainment, for example. But let’s also be honest, there will be more done by the government, I suspect. More, but also I am quite sure, not all.
How does the government fund this? By creating the necessary money, of course.
How does it control the money supply to prevent inflation? Through tax, as ever. Much of that will need to be progressive. But what is excess wealth for in a world where the apparent ability to consume has been shown to be the most anti-social action possible?
What’s the constraint on this? Only our willingness to innovate.
And I believe we will innovate.
No comments required – so idiotic I still suspect it might be a clever spoof…
Once we have satisfied our needs we can satisfy our wants. By consuming those things we want. Produced within a society that produces the things we consume. A…. consumer society maybe.
‘we will give up consuming as much,’
Thanks VP. In other words, we’ll do what he wants.
Needless to say, I intend to do what I want.
So… er… a society that caters to the desires of consumers… denies consumers of their desires? What? What’s he blathering on about?