Background and context
Jacque Fresco. An Obsolete Monetary System. The money-based system began centuries ago. All of the world's economic systems - socialism, communism, fascism, and even the vaunted free enterprise system - perpetuate social stratification, elitism, nationalism, and racism, primarily based on economic disparity. As long as a social system uses money or barter, people and nations will seek an economic competitive edge If they cannot get it by means of commerce, they will try to by military intervention. We continue these same outmoded methods today.
Our current monetary system is not capable of providing a high standard of living for everyone, nor can it ensure the protection of the environment because the major motive is profit. Strategies like downsizing and toxic dumping increase profit margins. With the advent of automation, cybernation, artificial intelligence, and out sourcing, there will be an ever-increasing replacement of people by machines, and a corresponding loss of jobs. As a result, fewer people will be able to purchase goods and services even though our capability to produce an abundance will continue.
Our present outmoded political and economic systems are unable to apply the real benefits of today's innovative technologies to achieve the greatest good for all people, and to overcome the inequities imposed upon so many. Our technology is racing forward while our social designs remain static. In other words, cultural change has not kept pace with technological change. We now have the means to produce goods and services in abundance for everyone.
Today, science and technology are diverted from achieving the greatest good for all in favor of self-interest and monetary gain through such strategies as planned obsolescence, which is the conscious withdrawal of efficiency. For example, the U. S. Department of Agriculture, whose function is presumed to be conducting research into ways of achieving higher crop yields per acre, actually pays farmers not to produce at full capacity. The monetary system tends to hold back methods that we know would best serve the interests of people and the environment.
In a monetary system purchasing power is not related to the capacity to produce goods and services. For example, in a depression there would still be computers and DVD's on store shelves and automobiles in car lots, but most people wouldn’t have the purchasing power to buy them. The earth is still the same place, but the rules of the game are obsolete and create strife, deprivation, and unnecessary human suffering.
Monetary systems developed years ago as devices to control human behavior in environments with limited resources. Today, money is used to regulate the economy not for the benefit of the general populace, but for the benefit of those who control the financial wealth of nations.