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RE: Introduction to VIVA : A Price Stable Crypto Currency with Basic Income (that's not Hypothetical)
No, in a situation like that, the animal side of mankind kicks in and we end up with riots, wars and worse.
I'm not so sure about that... do we have any precedent? Why would there be riots and wars if every person's needs were met?
Give average human lifespans another 10 years and social security checks will bounce.
It's actually impossible.
Impossible for social security checks to bounce or for average human lifespans to increase another 10 years?
I can't speak for the rest of the world, but I know the USA is well known for accomplishing the impossible.
We have people living to 120 right now, and death itself is looking like it might just be another disease we need to cure.
As for precedent, yes we have precedent. You're assuming that supplies would move and everyone's needs would be met if we just had more money.
The reality is that wealth would consolidate in the upper echelons and the government would be left to care for the people. Capitalism of the flavor we have in the USA is a system that privatizes the gains and socializes the losses.
The problem is that government must intervene if the needs of the physical majority cannot be met and they cannot be met in an abundance society just by virtue of abundance. All abundance means is you've gone from a supply problem to a distribution problem. Money doesn't solve supply problems, it solves distribution problems.
So government intervenes and starts another "new deal" system which forces a redistribution, or the government and their owners are set upon by the worlds most heavily armed, aggressive and trigger happy population.
Keep in mind we have a second amendment, not to protect our houses from our crackhead neighbor, but to protect our freedoms from our crackhead government.