The End of Economics?

I re-read Cory Doctorow‘s first novel, Down and Out in the Magic Kingdom, recently as a nice way to ease into the lazy days of Christmas. The book is set in the not-too-distant future, where the end of scarcity and death has transformed society into an esteem-based economy. Your basics are free, but your perks require you to build credibility capital.

It’s a neat concept, especially Doctorow’s main character’s contention that it more accurately reflects the nature of money – for example, in the present, a “rich” man that people don’t respect will not be able to buy anything with his riches, while a “poor” man that has much respect in the community will be able to make out all right with the help of his friends. The whole idea dovetailed nicely with a conversation I had later with my father-in-law on a familiar topic: “meaningful” work.

My father-in-law’s opinion of the nature of “meaningful” work is pretty straightforward, and parallels my earlier thoughts on Adam Smith: if people buy it, it must be useful. He pointed out that without this principle, forty percent of the population would be unemployed – could I imagine what forty percent unemployment would look like? Certainly not. But it begged the question: have we already reached the point where not everybody needs to work?

Considering only a miniscule percentage of the workforce is responsible for agriculture, arguably the main requirement for life, what are the other ninety-seven percent of us doing with our time? Are we only engaging in busywork because we haven’t been clever enough to reform our system of economics to free people to pursue work that they really consider meaningful, rather than scraping out a living working on things other people consider meaningful?

Springfield, Springfield!

Well, not quite – I’m actually in New York, New York. Actually, Bayhead, New Jersey. But what’s a state line to stand between me and a good Simpson’s analogy? Exactly – nothing!

We arrived in Newark on Tuesday morning, and I hopped on the train to Boston so I could interview in person with Peppercoin. While I could make some glib remark about taking a 6-hour plane ride across the continent just to take a 7-hour train ride up the eastern seaboard, I won’t, out of sheer respect for the train. It had legroom. And power outlets for my laptop. And a real reclining seat, permitting actual sleep. Heck, if they threw in wireless access, I would have chosen to take the train all the way from Vancouver.

I arrived in Boston in time to check out the local Company of Friends cell’s holiday party. Wow. Though they only had roughly double the number of participants at their meeting as compared to the Vancouver cell, it sounded like they seriously have their excrement together! The number and caliber of the events, discussion topics, and speakers they had during the year was quite impressive. Of course, this observation must be tempered with the knowledge that their cell has been able to piggyback on the magazine, which, until this year, was located in Boston. Thus, they could easily gain access to some premium speakers and other resources to which other cells wouldn’t normally have access. With the recent departure of the magazine to New York, it’ll be interesting to hear how they fare this year.

As for my interview, it went pretty well. Though I’m still pretty skeptical about the micro-payments space, given its turbulent history, they seem to have a capable and experienced management team in place. That, coupled with the growing need for micro-payments in light of the market opened by Apple’s iTunes service, suggests they might just be adequately positioned to make it work. I guess we’ll see what happens.

So now, to relaxation! Already I’ve seen the final installment of the Lord of the Rings trilogy (spectacular, of course), as well as “Henry IV” at the Lincoln Center (starring Kevin Kline and Ethan Hawke). Funny story about the play: I ran into Steve Martin. Not literally, of course, though that would have made it an even funnier experience. And what’s reality to stand between me and a good anecdote? Exactly – nothing!