No matter how much we pay respect to the narrator, money is extant - it is not going to disappear, especially if everything can be made for almost nothing. Get past this observation, concede it and you're ready to read on.
Let us say Space Cash will emerge as the common means of exchange and common measure of value, in the new realm of space once it has been colonised sufficiently.
And space is unbounded, not infinite, meaning it still has invisible boundaries. There are artificial boundaries necessitating the continued use of money. Yes, it will look different but will not be different fundamentally in this context.
These unbounded yet latent limits are put there by the value associated with the best locations, even in space. These are the limited locations where the most wealth is being created, just as they are on earth. Nothing at all has changed that matters. All thats happened is that space has improved the currently available land - which is the unbounded limit of space, so that it now commands a rent.
The staggering new levels of rent now available is where the extra wealth can be created above the marginal locations, where no one can afford to startup yet. But soon these sub marginal locations will come into use as the margin moves out to the less fertile locations - think of a city as it grows where the green belt is pretty but useless in economic terms, suddenly coming into use attracting a large rental value.
The reason money will still be required is this:
Since we can assign no limits to the progress of invention, neither can we offer any limits to the increase of rent — short of the entire output. If wealth could be obtained without labor, there would be no use for either labor or capital. Nor would there be any possible way either could demand any share of the wealth produced.
So the only way you can keep sharing the wealth justly, is through exchanges. And while exchanges are still being made, money is the most efficient way of doing it. Yes, there will still be people stealing money. But if there were no money, people would just steal the things that money buys, but less efficiently. Should we abolish money and huge productivity gains just because people still want to steal?
And because rent will be charged for exclusive access to produce huge new amounts of wealth in these valuable space locations, the goods and services produced there will be embedded with that rent in their price. Thus commanding a price to be paid for their purchase - in money as Space Cash. If you object then tell me how the best locations will be distributed if not by their rental value? By state administration like in Greenland today? And if you disagree the rent is embedded in all goods and services are the tenants refusing to pay it and getting away with that?!
Nothing will ever be free unless blind buyers are the product. A universal high income can only happen when earned incomes are high relative to rent and taxation - let us pray for that! It may be true that one day no one will need to work as hard as they used to for this high income. But everyone will still have to work to pay the rent, else who will be able to pay it except the Lord. And then you will be his slave. Is that what you want in space?
Part of the remedy is the advent of Space Cash. Money really almost the same as its always been. Historically cash has always been issued by 2 general players:
- The state - as central bank money which most people see and feel as paper and metal
- The private sector - as private bank money which most people today see as debit and credit money
Both kinds have their root source at the central bank. Private banks are allowed to issue their own money so long as they don't overcook the books. Yes, they always do in the end. And theres no telling if using space cash it will still not proceed. Again this can all be handled. If can be fixed too using the old methods but will the price be too high?
Space Cash needs to have following features:
- ultra-scale - billions of transaction pers second, making it possible to meet the demands of the unbounded new lands
- use a public ledger - to assure the crooks can be traced and followed, including the state crooks, do not worry this can be achieved with much better privacy than before using cryptographic techniques already soak tested
- be token based - for much better security, it will be token based not account based. Account based banking is a litany of money laundering and identity theft where an entire banks user account base cannot be stolen. Let us put an end to that with tokens and wallets