Phoenix5869 OP t1_je5mbzt wrote on March 29, 2023 at 4:09 PM

Reply to comment by LakesideTrey in Is capitalism REALLY going to disappear? by Phoenix5869

Why wouldn’t currency survive? Products, bills, services etc will still have to be paid for. And banking is essential for currency.

and the idea that a post scarcity society will end capitalism is silly. We grow enough food to feed the entire world at least twice over and food still costs money.

brokenearth03 t1_je5pyvp wrote on March 29, 2023 at 4:32 PM

What is currency but a proxy for time spent/labor? Today, different peoples labor is exchanged for different values of currency.

If we reach the era where labor isn't necessary for the majority of daily life, what value does labor/time offer anymore? Why would a seemingly very low value commodity (labor/time) be used as a value exchange medium?

There may be a new thing that is developed as a pseudo-currency, based on some other intangible-value-made-tangible, but it wouldn't be a stand in for labor/time in this entire very made up, very simplistic scenario.

Something else would carry value, assuming the entire society is into personal possessions at that point. This may evolve into a communal situation for all we know. Post-need generations would have no need to accumulate. There surely may be some experience, travel, etc that may drive some, but even that may be trivial.

There is zero reason to apply your personal beliefs about the past to future societies that don't have the same restrictions or priorities.

BookMonkeyDude t1_je5qoc7 wrote on March 29, 2023 at 4:37 PM

Food has also never been cheaper in human history AND a very sizeable percentage of the world do *not* pay for it.. they are fed through pricing supports, direct subsidy and food aid. That's reality, right now.