In the interest of exploring possible economic futures, I have read books on Modern Monetary Theory, Zero Marginal Cost, The Job Guarantee, and several others. Add to the list the most recent book I finished, How Capitalism Ends. Viewed through the lens of property rights, wealth, and the transition from Feudalism to Capitalism, author Steve Paxton uses an effective method of storytelling: start with history and then explore possible futures. The book is setup by two thesis: the development and the primacy thesis. What he describes helps us understand the “why” behind the future that is emerging.
- Humans are sufficiently intelligent to be able to improve their material situation, and sufficiently rational to be disposed to do so, given their historical situation of scarcity
- As technology develops, different types of economic organization suit different levels of technological development. (A slave society might be suitable for building aqueducts or keeping the Picts at bay, but it’s not particularly conducive to the invention of spreadsheets or the development of ABS braking systems.)
Paxton, Steve. How Capitalism Ends (pp. 10-11). John Hunt Publishing
According to Paxton, implications are spawned from the thesis. He lists them as follows:Continue reading