Impact

Much like Newtonian physics, the market economy works phenomenally well within certain parameters. But once you're outside those parameters the system starts to fail.

For the market this “classical boundary" is scarcity – without which the laws of supply & demand don't work.

The problem is that the more we move into the digital realm – and then add exponential tech on top of that – the more failures we’ll see in our institutions and markets.

This is not a process that can be reversed. We’re not going to stop technological progress.

Just like w physics – where we needed a new paradigm to explain what Newton could not – we’ll need a new economic paradigm for abundant resources, to augment our current scarcity-based economic model.

This, incidentally, was the subject of a book I authored earlier this year called The Abundance Economy (available for free at book.abundance.id)

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Abundance Economy book: book.abundance.id

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