Exuberance and scarcity

An extract from Chapter 8 of the book Transcending Politics:

8. Exuberance and scarcity

Let’s set aside for the time being the subject of the previous chapter, namely the threat of an environmental meltdown triggered by reckless human activity. Instead, to start this chapter, let’s consider a different kind of meltdown, in which financial systems cease working around the world.

In such a scenario, ordinary citizens might try to withdraw cash from bank teller machines, sometime in the next few years, only to find they’ve all stopped working. The funds in savings accounts may be significantly reduced overnight. Payment requests using credit cards may be declined, causing chaos in shops and restaurants. In an atmosphere of profound uncertainty, corporations will avoid taking risks. Business contracts will be cancelled, with growing numbers of employees being made redundant. Supermarket shelves will become bare. Populist politicians and newspapers will be quick to blame bankers, businessmen, overseas cabals, the so-called “elites”, reds-under-the-bed, or whoever. Tempers everywhere will flare. Soon, people will be trying to take matters into their own hands. The few “survivalists” who have been able to hoard scarce resources will find their stashes under attack. It won’t be long until law and order breaks down.

That’s a possible disturbing future which has echoes in many past upheavals. History bears witness to a long series of financial crashes, each ugly in their own way. Simpler times saw simpler kinds of crashes, but the effects were still often catastrophic for the individuals involved.

In this chapter, I’ll explore the likely effect on future financial stability from the trend that underpins all the others discussed in this book, namely the acceleration of technological innovation. Should that acceleration make us more apprehensive about forthcoming financial crises? Or will it instead diminish the importance of money? Indeed, if economics is the study of the allocation of scarce resources, and accelerating technology delivers a sustainable abundance of all the basic necessities of life, where will that leave economics? Will the displacement of scarcity by abundance transform the so-called “dismal science” (economics) into an unnecessary science?

To give my answer in advance: that’s not going to happen any time soon, contrary to the apparent expectation of various techno-utopians. Technological innovation, by itself, isn’t going to free society from the risk of financial meltdowns. Instead, we’re going to need better politics: technoprogressive politics.

Lost fortunes over the centuries

One example from each of the last four centuries will set the scene for the question of: what next?

The South Sea Bubble investment craze of 1720 saw thousands of investors losing huge chunks of their personal fortunes…

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Recent Posts

Q4 update: Progress towards “Sustainable superabundance”

TAM TOC graphic 2

Over the last few months, the “abundance manifesto” book has been coming into shape.

Thanks to many useful discussions with supporters of the Transpolitica vision, the book now bears the title “Sustainable Superabundance: A universal transhumanist manifesto for the 2020s and beyond. The basic framework has evolved through many iterations.

The goal remains that the book will be short (less than 100 pages), easy to read, and contain compelling calls-to-action.

Of the twelve chapter in the book, seven are essentially complete, and the other five are at various stages of preparation.

This list contains links to copies of the chapters that are essentially complete, along with placeholders for links to the remaining chapters:

  1. Advance!
  2. Superabundance ahead
  3. Beyond technology
  4. Principles and priorities
  5. Abundant energy
  6. Abundant food
  7. Abundant materials
  8. Abundant health
  9. Abundant intelligence
  10. Abundant creativity
  11. Abundant democracy
  12. Engage?

For convenience, a more detailed table of contents for the first seven chapters is appended below.

Feedback

Supporters of Transpolitica are invited to read through any parts of this material that catch their attention.

The best way to make comments on the content is via this shared Google document.

Once the book nears publication, a number of existing websites and communities will be restructured, to more usefully coordinate positive concrete action to accelerate the advent of sustainable superabundance.

Thanks in advance for any feedback!

Detailed table of contents

  1. Advance!
    • Time for action
  2. Superabundance ahead
    • An abundance of energy
    • An abundance of food and water
    • An abundance of material goods
    • An abundance of health and longevity
    • An abundance of all-round intelligence
    • An abundance of creativity and exploration
    • An abundance of collaboration and democracy
    • Time for action
  3. Beyond technology
    • Beyond present-day politics
    • Beyond present-day democracy
    • Beyond lowest common denominator voting
    • Beyond right and left
    • Beyond the free market
    • Beyond corporate financing
    • Beyond predetermined exponentials
  4. Principles and priorities
    • Nine core principles
    • Technocracy
    • Science
    • Transhumanism
    • Religion
    • Singularity
    • Exponential urgency
    • Technological determinism
    • Techno-optimism
    • Precaution and proaction
    • Diversity and inequality
    • Diversity accelerating
    • Coexistence
    • Human-like minds
    • Re-engineering natural ecosystems
    • Beyond hubris
    • Taking back control
  5. Abundant energy
    • Anticipating climate chaos
    • Taking climate seriously
    • Technology is not enough
    • Steering short-term financials
    • A battle of ideas
    • Beyond greenwash
    • A role for nuclear energy
    • A role for geoengineering
    • A wider view of environmental issues
  6. Abundant food
    • Population, onward and upward?
    • The legacy of Malthus
    • Necessity and innovation
    • In praise of biochemical innovation
    • More waves of innovation ahead
    • Towards feeding one hundred billion people
    • Risks posed by biochemical innovation
    • The move from harm to ruin
    • Rapid response
    • Beyond the profit motive
  7. Abundant materials
    • Approaching nanotechnology
    • Tools that improve tools
    • Waves and transitions
    • The fabrication of integrated circuits
    • 3D and 4D printing
    • New materials
    • Quantum computing
    • Nanomedicine
    • Six answers to scarcity
    • Risks posed by nanotechnology
    • Beyond the profit motive

 

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