what would happen if the world has a single economy?
Discussion
DamoLLb said:
As title really. Would do you think the outcome of a single world economy would be?
Good question.Ultimately, perhaps in centuries or longer time, that is where we will probably end up. And be all the better for it.
A single centrally managed economy, with regional free trade is probably the best solution in the long run.
anonymous said:
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No. Our current systems are clearly flawed. Ultimately, the global economy needs to be overseen by computers that aren't prone to rumour, panic and unmitigated greed.Staple products such as energy, food etc should not be at the whim of massively wealthy speculators.
What is clear from the current mess is that the system has become too complex and unstable for humans to effectively manage it. No-one really knows what is going on...
anonymous said:
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But computers are programmed by humans. They can only reflect what our understanding is, so how can that improve things? We already have computer models of the economy. The rest of your post appears to wish for a Soviet styled command economy. That worked well didnt it.
anonymous said:
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Not at all.Computers are not prone to irrational emotional response. Eventually they will be ideally placed to remove the "human" element that destabilises economies for no good reason.
I am not suggesting that they would run all elements of the global economy - there should still be plenty of room for human enterprise and ingenuity, but they could bring stability to the key commodities that underpin our socio-economic system.
There is no good reason why we experienced the sudden rises in oil and food costs last year - these rises were the result of a few immensely powerful speculators who made vast sums of money from massively inconveniencing millions (even billions) of people.
The past year has seen large companies, and banks, brought to their knees by rumour and panic. These are human failings, and did not reflect the true value of such organisations, but rather a near hysterical reaction to perceived problems whether real or imagined.
We already rely on computers for much of our physical safety - air traffic control, road management, cars, planes, trains, spaceflight etc. The human element is still there, but it is moderated by powerful and dedicated control software. This is only going to increase in the future.
I see it as inevitable - let the computers do the things they are good at, and leave humans to be creative and innovative.
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