The conventional view of economics is deeply entrenched in the paradigm of scarcity: resources are limited, and wants are unlimited, necessitating a system of prices for the allocation of these resources. However, this perspective overlooks the transformative power of technology. Technology is not just a collection of gadgets and algorithms; it encompasses anything that amplifies our capabilities - be it charisma, knowledge, guitar, programming languages, money, or a simple hammer. I argue that we must shift our focus from prices to technology as the primary driver of economic progress.
Historically, technological progress has consistently expanded our reach to resources, challenging the notion of inherent scarcity. The advent of space exploration, a vision fervently pursued by visionaries like Elon Musk, exemplifies this. Musk's endeavors, particularly his ambition to colonize Mars, demonstrate a tech-centric approach where pursuing technological breakthroughs trumps monetary gain. As humanity extends its reach into the cosmos, the idea of limited resources becomes increasingly obsolete, rendering the 'economic pie' no longer confined to Earth's limits.
When resources are perceived as unlimited, the 'price' we pay shifts from monetary costs to the unexplored potential of technology and innovation. This paradigm shift necessitates placing technology at the forefront, not as an adjunct to traditional price-based economics. The growth potential becomes limitless when we focus on leveraging technology in all its forms.
This tech-centric approach aligns with our desire to shape the world according to individual needs and aspirations. Unlike prices, which require collective agreement and often leave little room for individual influence, technology is more individualistically democratic. Suppose one person in an economy of a hundred disagrees with the existing technological paradigm. In that case, they have the power to innovate and create change, as seen in examples like Bitcoin, which represents a technological challenge to traditional, government-controlled currency systems.
Moreover, a shift towards a technology-focused mindset could address challenges like income inequality. Disparities often arise from an overemphasis on monetary accumulation. By contrast, a society valuing technological advancement and innovation above wealth accumulation fosters more equal opportunities. Although we can experience fewer instances of technological mindset even in a world full of price orienteers, the price of unexplored technology is massive.
A common criticism of an unbridled approach to technology is the potential for environmental harm and the risk of Artificial Intelligence turning rogue. While these concerns are valid, with climate change being an undeniable reality and rogue AI a potential threat, a truly technologically-centric humanity would inherently develop technologies that are harmonious with the environment and exercised with caution. This ethos prompts a fundamental question: "Will this technology enhance our collective well-being?" rather than delegating such decisions to prices and government regulations.
It suggests that individuals, by preferring technologies that are environmentally and socially responsible, can directly manifest their preferences. As human beings were not before and are now conscious of the environment, a technology that does not reciprocate with social-benefit has the potential to be disregarded. The argument extends to the idea that individual consciousness in choosing beneficial technology shouldn't be a burden borne by the majority. Different levels of consciousness exist among people, and a government's role should be to safeguard those at the lower spectrum of this awareness.
However, overprotection could stifle the expansion of human consciousness, as it negates the consequences of not evolving. History shows that technologies developed solely for monetary gain, without regard for humanity or the environment (e.g., slavery, climate change), are the unfortunate outcomes of a price-centric approach.
Juncture has come to redefine our economic priorities. By placing technology at the forefront, we open up a world of unlimited possibilities, replacing traditional economic constraints with the boundless potential of human ingenuity and innovation. The correct question, therefore would be "Will this make me technologically superior?" rather than "Why cannot I afford this?". The purpose of this writing is to change the psyche of individuals to focus on technology rather than the price of things.