Thinking about the future 2: the consumer economy

@ 06.11.2023

Some thoughts on the direction of modern civilization.

The twentieth century brought to mankind two of the most amazing and important discoveries, possibly fundamentally changing its history. We are talking about the industrial generation of electrical energy and the mass introduction of computers and computer technology.

These two technologies helped to change the usual agrarian-industrial way of life and to reach a new level of production, both qualitatively and quantitatively.

Mankind moved to a leapfrog development, when electrification and computerization were followed by a massive automation of all critical production processes, including light and heavy engineering, food processing, telecommunications and transportation.

Increasing efficiency is impossible without innovation, which in turn entails constant updating of models, shortening the period of production of new models, and intensification of consumption.

As it seems, the system will be closed-loop. Robots and automata will produce goods and services, they will recycle and re-circulate consumption waste, a person in turn will consume, the financial system will provide financing for this consumption in the form of unconditional basic income.

This whole picture begins to resemble a cycle of continuous production. What happens if consumption falls for one reason or another? How will production be affected? What will have to be done about overstocked warehouses? Will the system be able to adjust to the dramatically changing conditions?

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