Urgent Evoke

A crash course in changing the world.

Future of money: No money in basic needs?

People try to fix economy with new ways of getting money... but what if we think outside of the box? what if money is the problem?

Money is just a way to evaluate and interchange the value of thinks. As good as that is if we have a good price allocation system (so if we can correctly evaluate the value of things and set it as a price) the true is that many (all?) of all the important things can`t be correctly priced. What's the value of clean water? of life? of health? or even material but basic needs like food?

Market economy is unable to address this since you have to be part of the market to have a voice there and people with no money are simply out of the market (so they can`t really participate in the market system).

What I think is that some things (basic needs) are imposible to price since their value is far much greater than the money most people have (just think how much would you pay to save your child's life? the answer usually is everything I have (or even more as I'm sure most people would sacrify themselves for that) no matter how much or little you have). So the price can`t be defined though markets in this situation as the difference between price and value is to big.

Other example where price and value of a thing are far to different is for public goods or goods with lots of externalities (how would you price clean air? what's the value of setting and funding a social program?)

So what to do when markets can`t work?

Classic economy tells you to find a way to create a market for them. I think that doesn`t work because we are exactly talking about goods that you can`t price so markets just don`t work!

I think we need a no-price system for those goods. Creative ideas need to be developed for each kind of these goods. Here are a few ideas but I hope to hear more!!!!
Self-production: Urban farming can give people a healthy diet regardless of the money they have. You can`t price your family's health, but you can use your own hands to keep it!
Socialist-like programs: Don`t get me wrong, I think the more you work the more you should get and competition is probably the best (only?) way to promote effort. But there are things that everybody should get, at least at a minimum level. Basic public education and health should be just open to everyone, you want better service? pay for it! but at least we can guarantee a minimum level of all basic services using a socialist-like government (think of Sweden and Norway where people pay 60%+ of taxes but they get a lot of high quality services for free)

More ideas? come on people, the world needs them!!!!

At least think about it: How would people act if they knew their basic needs will be fullfilled?

Views: 17

Comment by Radhika Darbari on May 9, 2010 at 8:27pm
True..agree :-) we need to change the system. Only thing a problem in welfare states is the misuse of the system. Getting greedy and not all who can in society, contribute as they should, making the ones who do skeptical of its success. In theory we would hope it would bring a better society, but we struggle as knowledge and worth/value as you say is not unfortunately today accurate in relation to income.


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