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GePap
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of the Big Apple
Nov 2001 time: 23:25
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While reading the Economist's christmas special, I came on an article about Marx's continued life in the academic world, even after political Communism has come to a general end. As one would expect from the Economist, they espoused the view that we now know Marx's basic economic views are wrong, that Capitalism at its appex does not set the stage for the revolution and dictatorship of the proletariat. But is that true? Have we reached the end of Capitalism, the point at which we have maximized its productive capabilities? Feudalism lasted 1000 years, and there are 4000 years of history before that, and capitalism has been around only 300 at most. What about the future? which is where Star Trek comes in.
In Star Trek, one of the basic new technologies is matter-energy conversion, which makes the teleporter and the replicator possible. So lets imagine its the year 2350, and the "Home Replicator" has become a reality. Can the modern form of Capitalism survive a world in which any individual with enough capital to aquire one can create any good they demand, wthout the labor, capital, or resources of anyone else? Would this realm of near limitless energy (which one would need to make replicators) invalidate the current economic orthodoxy, or would a form of the Market remain alive, such as selling the patterns to replicate stuff? If so, how long would ownership of a pattern last? forever in the hands of one company? How could it work?
PS:
On the topic of star trek, two separate questions:
How could the Ferengi continue to use species (Latinum) as currency? Why has no unscrupolous (ie. any) Ferengi simply replicated tons of the stuff, thus making it worthless?
Does the Federation ever hold elections? We rarely ever see (even in DS9) the political, civilians leaders of this "federation", only Starfleet Officers. And I have never heard of any of the many crews talk about absentee ballots, the coming or past elections, so forth and so on: do we assume the dictatorship of the proletariat came true?
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Andrew1999
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Yes, whenever anyone tries to replicate latinum a giant Plot Hole opens up and swallows them, and they are never seen again.
Don't try to get philosophy or political sceince from some sci-fi show. That's how we wound up with Scientology (well, OK, that was a novel).
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GePap
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of the Big Apple
Nov 2001 time: 23:25
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quote: Originally posted by Adam Smith
Economics is about making choices subject to resource constraints. If one resource, energy, is effectively limitless, and can be freely transformed into all other resources, then there is no resource constraint, and no need for economics. But can replicators be used to create, say, a limitless supply of each person's time? If not, scarcity still exists and economics still has something to say. |
What would be the economics of time, exactly?
And what about ideas: the whole idiotic "latinum" disucssion birngs up one point: you probably need formulas for anything you whish to replicate, so where would these formulas come from? You could argue that if someone comes up witha design for some new tool, they would own the patent, and be able to charge individuals for using their idea. Yet what about, lets say, and apple? Could anyone own the pattern for an apple, or any sort of common plant?
And then there is the idea of services: you still need engineers, and repair personal for this equipment, teahcers, and doctors (probably even lawyers). Could these serives be provided all by an overarching state?Or would private companies still exist? and then thre is the question of who builds and controls the power output, the lifeline of this whole system.
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Provost Harrison
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The farce is strong with this one.
Feb 2000 time: 05:25
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quote: Originally posted by Adam Smith
Economics is about making choices subject to resource constraints. If one resource, energy, is effectively limitless, and can be freely transformed into all other resources, then there is no resource constraint, and no need for economics. But can replicators be used to create, say, a limitless supply of each person's time? If not, scarcity still exists and economics still has something to say. |
If technology of the same time allows clinical immortality and advanced medicine techniques to combat just about all ailments, then yes...people could have lots of time too. The issue is, humans would have to find something to do with all the time...
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Adam Smith
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Maryland, USA
Jan 1970 time: 00:25
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quote: Originally posted by GePap
What would be the economics of time, exactly? | How to allocate scarce time among various activities to best achieve what you want. Eg., work for current income, or go to school for future income. Alternatively, consider that the price that you pay for a good is not just the monetary price of the good, but also the value of the time it takes to buy it. For example, I often buy things quickly over the internet, rather than taking a long trip to the mall. Gary Becker (University of Chicago) won a Nobel prize in part for working out the implications of time in economics. (edit: Thorstein Veblin, The Harried Leisure Class first raised the issue in 1919 or so.)
As for the other issues you raise, I have no idea. 
edit: spelling
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Tripledoc
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quote: Originally posted by GePap
How could the Ferengi continue to use species (Latinum) as currency? Why has no unscrupolous (ie. any) Ferengi simply replicated tons of the stuff, thus making it worthless?
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Someone mentioned the time factor as on inhibiting force on inflation. However I think there is also the space factor. If we say that ferengi currency is indeed capable of replication, then it would only achieve a state of worthlessness if the currency area was limited on the horizontal plane (in this case the area is perhaps spherical) by borders, and vertically by the number of consumers. Since space is practically limitless in area ,and presumably inhabitants, the socalled optimum currency area would never be reached. Socalled 'globalization' would not set in.
In fact the motivating factor behind their 'greed' is that they do indeed replicate tons and tons of currency triggering inflation. The resultant internal distabilisation as prices soar, is offset by expanding their monetary bloc continuously which in turn deflates the currency.
Also as each world sees prices go up they naturally also raise taxes, pulling the currency out of circulation - these are then put into vaults for 'safekeeping'. The various planetary govenors might full well know what is going on, but they might consider playing along if their miltary hardware is not sufficient to facilitate aggression against the ferengi.
An historical analogy is of course the rise of Athens. Using slave labor to work the mines of Laurion they were able to import grain in exchange for silver. Their monetary bloc expanded to encompass the western Mediterrenian basin until when from around 550 to 500 the rise of the Persian empire meant that future monetary expansion would have to penetrate that entity. The Persian empire began to take silver out of ciculation in the form of tribute which was dug down in the Palace at Persepolis. But to no avail since the Babylonian economy was insatiable and athhenian coin was in much demand So war erupted...
When Alexander the Great later razed Persepolis and handed out the hoard of silver there it immediately triggered hyperinflation.
Remember Oresme's Law 'bad money drives out good'.
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