Jul 142016
 

An Economy Based on Resources

Our current economic system can use some improvement. The government’s manipulation of currency, deficit spending, and bank bailouts are among many of the controversies that we have to deal with in modern times.

But I recently found out about an organization called the Venus Project that aims to replace the society we currently have with one that’s based on computer driven central planning. In this new hypothetical economy money doesn’t exist. The system will revolve around resources instead. The idea is that all the resources in the world belongs to everyone. And the way resources are used up and distributed is by a computer program. Right now we have enough food in the world to technically feed everyone, but poverty and hunger still exist. This new system would solve those kinds of social economic problems. A central artificial intelligence would keep track of all the oil, timber, fish, and other goods available, and it would manage the production and distribution of stuff in the most efficient and environmentally sustainable way so that everyone would have enough. In such an economy that is based on resources, there would be no use for money. 😕 The Venus Project also claims it will shorten the work day and raise the standard of living higher than what most people realize is possible.

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Although I agree that the status quo needs to be challenged I don’t think the Venus Project is the right solution. In fact, I don’t think its proposition is even possible at this time. There are a lot of concerns about the project that have yet to be addressed. Personally I don’t understand how an economy can even function without a price mechanism.

Money doesn’t just simplify life. It also bolsters stability in a market so we can budget in a predictable fashion. 🙂 Money can be anything as long as most people accepts it as a medium of exchange. It can also be used as a store of value.

The co-founder of the Venus Project, Jacque Fresco, argues that “greed and envy are a creation—a side effect—of the current monetary system and the profit motive.” But I disagree. I think greed and envy will still remain in society even if we live in a world without money. There also haven’t been any test runs or experimental systems of this kind of economy working yet. I also don’t know how a computer software could remain objective about making economic decisions for everyone when it’s programed by people who have different biases and lifestyle preferences. On the surface this ambitious project sounds like an egalitarian paradise. But so does communism, until we dig a little deeper and realize it’s impractical to assume that everyone is sufficiently altruistic in nature. Nevertheless, the group has been around for decades, has a large Facebook following, and millions of YouTube views with 98% approval ratings on its more popular videos. So apparently lots of people think the Venus Project is a good idea.

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Random Useless Fact:

Nintendo shares shot up 25% on Monday this week thanks to the unexpected popularity of its new game, Pokemon Go.

16-07-pokemon-go-meme-latios-plane

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Money Beagle
Guest

I’ve always wondered about a world without money. Unfortunately, I think humans use it as a way to separate who is ‘better’ than other people, and I just don’t see human nature able to give that up.

Papa Div
Guest

As I was reading your post, I thought “this sounds just like communism” – and then you made the comment. That’s exactly what it sounds like.

Jacque Fresco’s comments seem very naive to me. Has he never watched toddlers fly into fits of jealousy and greed because another child touched their toy? Greed, envy, etc are the human condition. We can all learn to better control them and channel them to society-bettering purposes, but they will always be there in one form or another.

sherry @ save. spend. splurge.
Guest

Money is just a tool. If we think that if we replace it, everything will be utopia, we will only go back to replacing money with other forms of bartering that are money-like, using coconut shells, stones, gold, diamonds.

People won’t be better just because there’s no money. We’re focusing on the wrong thing. We should be fixing equality in incomes, raising minimum wage and fixing the equality gap between men, women, workers & CEOs.

Money has nothing to do with any of this. It is a TOOL.

Anon
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Anon

“We should be fixing equality in incomes, raising minimum wage and fixing the equality gap between men, women, workers & CEOs.”

Doing all that will “fix” relatively little. Still focused on the wrong thing(s).

Financial Canadian
Guest

Hey Liquid, nice post. Always exciting when I see new posts from you in my email stream!

Although it’s hard to imagine a world without currency, it can certainly be done. I recently read a story of a man who bartered his way from a red paper clip to a house!

Anon
Guest
Anon

That story is a more than a few years old, accomplished with world wide attention.

Then again, there’s a reason why society no longer uses the barter system.

Brian Lund at Measured Money
Guest

Very interesting. I had never even heard of the Venus project before. It’s hard to imagine a world without money, but the way technology is being created, I doubt anything is impossible.

Anon
Guest
Anon

“So apparently lots of people think the Venus Project is a good idea.”

Anything to represent people’s ideal, no matter how misplaced.

I wonder how many supporters of the movement actually actively live according to the Venus creed of ‘wealth redistribution’? I’d bet it’s very close to 100%.

..Just read through the Venus website. Had a good laugh.

anonymousengineer555
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anonymousengineer555

Doesnt really work out in prison either… or Russia… The gangsters/hustlers will always want more. What would be more interesting to me is world wide currency. Hurts every time I have to convert to USD and TSX hasn’t moved.

TVPsupporter
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TVPsupporter

You apparently don’t understand what’s the Venus Project iss all about. Just watch the latest movie “The Choice Is Ours” and you maybe will understand better, why there are people, like me supporting the project.
The next step for the project would be to build a Research city, but in the current monetary system they obviously need money to do so.
Your questions you have about the project are all answered in the movies and on the website.

frankX14279
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frankX14279

@TVPsupporter You are completely right. Because of people like him we can’t achieve a far better – not a perfect – future for everyone. Please do proper research before writing a blog post!

randomGUY
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randomGUY

Being critical is a good thing. But PLEASE, all your concerns are disproved, and your questions answered, if you would have look for the answeres. (Tip: Website, Youtube Channel + Youtube Comments)

Finance Guy
Guest

well thats a computer based form of communism. at first glance the idea of calculated based economic governing sounds great. we would all have just what we need, there would be no greed, no want, no squabble (i’m glad thats actually a word). for the first few months anyway. the problem is we wouldn’t have any motivation besides personal amusement which wont take us but so far. infact the only real progress would be in the sector of cheating. cheating would be the only way to get ahead. people work because of incentive. people work as a means to pursue happiness. people need purpose, competition, and most of all the hope of obtaining something better than their current reality.

Well… thats what I think anyway.