OUR SYSTEM

In economics, “Capital and labour are two inputs into a production process. When they are used to make a good or services, they function as both complements and substitutes to each other. Generally, for a given level of output they are substitutable - depending on wages and the cost of capital we could change the mix of labour and capital we use to create a good. However, they also complement each other in the sense that the more capital you have, the greater the additional output a new employee could create. “As a result, although it is true that, for a given level of output, more productive capital means we need fewer workers - the fact that each additional worker can make more from this capital implies that wages are higher, and makes hiring workers more attractive. As a result, the real change in employment is not clear - all that is clear is that technology that makes capital more productive leads to greater output and income. “In order to understand the impact of a change in tech...

We need to resolve the dilemma of scarce or limited resources and we are coming close to doing so. Many things mass produced today are so inexpensive as to be virtually free. But it is through our ideas, immaterial and limitless, that we design these products and make them desirable. Is there any reason why our ideas should not be free too? Material things, including houses, are becoming mass produced in unlimited variety. The costs of variable, bespoke units are dropping to the costs of units in mass production. This occurs because machines and production lines are becoming flexible, controlled by computers in which our diverse design ideas are input. The cost of producing one unit in one run is as inexpensive as the cost of producing one unit in a run of a million. The resources used are, like the digital resource replacing paper and plastic, in limitless supply. They are unlimited because we produce them ourselves using our limitless supply of ideas to convert limited resource into ...