Wednesday: Economic Dreams
Learning Economy | Money as Reinforcement for Synapses and as a Change in Network Connection Strength | Algo-Communism | Learning Culture vs. Consumer Culture | The Economy's Transition to Infinitesimal Amounts of Money and from There to a Continuous Flow Economy | The Mathematical Need for a State is the Basis of the Social Contract
By: Addicted Gambler
When Money Dreams of Man - Instead of the Opposite
(Source)- In the learning economy, learning has value, and more than that: the definition of value is created through learning - learning as value. Because the value of something is created from the learning invested in it, and not reduced to the work or money invested in it. Money is a way to quantify learning. Hence, the abolition of ownership of the algorithms themselves, and ownership is only of the learning. Therefore, there is compensation for the algorithm in two types of value: 1. Use of the algorithm itself in royalties (learning value), due to the resources invested in learning it. 2. Sending pleasure instead of money, like likes. The second value can be consumable, with a limited supply per time, and therefore not intended for accumulation. For example, there can be one-way fading money (new possibilities created in digital money) - and therefore its value is in passing it on, to whom you appreciated what they did, like feedback in a neural network. This way you can send money that is reputation.
- Algo-communism will be the revival of communism. Its meaning will be the central management of a state through a central algorithm, which weighs data on a huge scale, far above human capability, and distributes the budget using prediction and optimization, and allows not only an annual budget but a continuous one. This will be neo-communism, after post-capitalism, and people will be driven by competitive motivations not necessarily related to money, but definitely driving people, according to behavioral economics (like gaming and social motivations). In the economy of the future, basic needs will be provided for all (the first step will be basic income for all), and it will be socially unacceptable to consume more than that - and not respectable. The excess money of the rich will go to investment and donations, and only thus will become honor, because consumption will become a disgrace. Status will be standing up to the ethos of volunteering and giving charity and contribution. In general, it may be that in an economy where everyone is provided with the same basic resources at a good level, it will be possible to use money only for donation, and not for luxuries, and payment for profit purposes will not be possible. Because donation or investment means turning money into learning and development and life, while consumption means turning it into matter and killing it. And therefore, money as we know it today is outlawed, with all its problems.
- The capital market will gradually open completely - to all types of property. Instead of ownership (shares), it will be possible to buy royalties, for example to buy intellectual property, or percentages of future work of a person (if they want to raise money), or from a country, or from a work of art. The ethos will change: against consumption (present) - for investment (future). Finally, the law will allow algorithms that earn money (meaning they own the money) and that invest in the economy, until it will be possible to give algorithms all the financial matter and release humans from it. And humans will no longer have money - only algorithms - and they will drive the economy and be the capital owners. And thus jealousy and protectionism will cease.
- Work is a product with negative value, and therefore one receives money for it. The economy is becoming composed of fragments, many transactions with value approaching zero, for example information, or negative value approaching zero, for example advertisements (biased information). This will also happen to work, with mini-royalties on the product, and mini-royalties in every purchase of the company's product, which pass to the worker. And this includes measuring how much the organization profited from each activity, and data-based management, without positions, only projects. The manager receives the money and also gives the salary, not the organization, and can hire as he sees fit. In the world of work, there will be a transition to more and more human programming roles, and in the end, all humans will be managers, and computers will be the slave class, as in the classical world. The moment the average person can program the computer - that is, the moment the computer is able to learn what to do from the average person - this will be a revolution in human-machine relations from instructions to instruction.
- We need algorithms for finding work, profession, housing, educational institution, like algorithms for matchmaking, mediated by the state. The state will be perceived as responsible for the neutrality and security of databases, and in fact its justification will stem from algorithmic needs: the advantage of concentrating information and its availability in one place, and the ability to overcome game theory failures that stem from local optimization (each individual for themselves) that is opposed to global. Algorithms that maximize the good of society versus those that maximize the good of the individual - this is the great economic debate, and this is how the struggle between left and right will be understood in the future - a struggle between two levels of analysis.