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Future of Economics
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Some believe that the world shall move towards more socialized economic systems such as the Nordic countries, or may even go further and lead to Communism. Others claim that economic science shall prove that deregulated capitalism is the best system, and that future prosperity will be brought in by free markets. Others think that we are rapidly approaching a post-scarcity or resource-based economy, where money shall become obsolete and economics as we know it will effectively end.
What do you think is the future of economic systems, and why do you think you're correct?
Well, I just got my BA in Economics a few weeks ago, wanna hear my opinions? :D
Wourld's ******, news at 11.
... at least that's what the media will report.
Actually it's getting better overall for most people, though that's not exciting and thus will never make it into the media.
There is no "one size fits all" economic system, it would vary based on the culture of the national/ethnic group in question. Economics, politics, and culture all influence each other. Given the different types of economics and the resurgence of alterntives to the Western model (which itself isn't some kind of monolith given the difference in economic thoughts between the US, EU, and certain other Developed nations) there will continue to be different systems for the foreseeable future.
As for the concept of post-scarcity, that's a pipe dream for the simple reason that due to human nature, greed is infinite (at least effective infinite for a small number of people, that also by their nature tend to be the ones who hold/aquire the majority of resources). However, in the far, far future a psudo post-scarcity society is theorically possible assuming (a big assumption) that the rate of greed (i.e. the derivative of greed) is outpaced by the rate of growth. that would require some pretty advance tech and massive resources asscess though.
In other words, somebody really need to invent the replicator fast!
That might be enough, though it'll need to be part of a broader network of advance tech such as anti-matter* (though that's actually not that terribly efficient TBH) to provide the energy.
A "better" way to solve the greed issue would be to simply put the majority of humanity in a matrix style VR, where virtual goods can serve as subsitude goods of the real deal, of course to miminc reality enough would need some pretty impressive computing power (and energy to power those computers, again one of the main bottlenecks).
While anti-matter contains a lot of energy (when contact with normal matter anyway), producing anti-matter takes a lot of energy itself...
Who believes that the world will move more forward to communism?
Haven't European countries tried that in the past century with each one failing spectacularly in the process?
I think the world has seen enough evidence that communism doesn't work, capitalism is the lesser evil for now.
Social systems of Nordic countries work(ed) very well - look where they got with no miracle to start with. They just need to change immigration policies. Of course they have their own problems and issues, but all countries have these.
Actually, we had never seen communism. It always turned to dictatorship before communism was reached. And as for capitalism, it's no good for democracy, since it prefers private income over community.
Communism tuns to dictatorship because that's the ultimate result of a doctrine that is self-contradictory and self-defeating. It's one of those things that sound good in theory but put in practice, will never work.
Communism is no better for democracy since it takes away more rights than it adds.
I agree with the first paragraph, last sentence is a thinking about fantasy. Amount of rights is also determined by way of establishment and since there can be none...
Still, social politics of Nordic countries is a good way to go. Especially for small republic such as mine, it's time to start doing things our way a think about our future.