Currently most of my conversations are about work, exercise, and food. Work is interesting but continues to be mostly confidential. Exercise is going well, and I’m micro-blogging my training in the description of each session on strava. Food continues to be tasty, the importance of which is highlighted in the amusingly titled paper:
Here is an unrefined thought that is not about work, exercise, or food:
A thought experiment about the absence of money
In response to the COVID-19 pandemic, governments across the world are taking on debt to keep their economies functioning. I’ve been considering the thought experiment that, perhaps, society could function without money at all. As increasingly individual income and expenditure are merely editing a number in a database, those numbers could remain static and people could simply act as they would in a system governed by money. Obviously the existence of money serves many purposes; a store of value, a medium of exchange, an incentive to not over consume, a signalling mechanism in a variety of contexts, a decision making mechanism via auctions. But the actual changing of numbers in databases (or exchange of paper bills) is not necessary for the actual construction of buildings or transport of commodities. At the outset, if all consumer goods were priced at 0, initially people might over-consume or hoard, but ultimately what would be the purpose? They could not on-sell the goods, not would consuming beyond their need be a positive outcome for themselves. If we assume generally rational and socially minded actions from individuals, would this system be possible? Further, in considering where the system is hardest to implement (how would we ensure just allocation of unique property e.g. housing?) it highlights the different roles money itself plays in organising a society.