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Tag: abundance

Scarcity and the Idea of Fiat Money

The essence of economics is to generate scarcity. The modern idea of money is something totally separate from the concept of value: without real backing, manufactured from debt; free for some, unaffordable for others. And no matter who is in Parliament: its fundamental mission is to generate scarcity: scarcity of jobs, scarcity of land, scarcity of talent, scarcity of health.

There are some investments whose return has been and is immense, such as the GPS System. This system costs 1 billion dollars a year to operate. But the value it generates is immensely greater, and it is free for everyone.GPS is an example of a system in which there is no scarcity, and therefore no need for money.

In fact nothing that has no scarcity needs money at all.… Read more...