Yesterday I explained why I dream of a world with 100% unemployment and today I plan to explain how the End of Money will play a part in this process.

First it’s relatively important to understand the concept of money. Basically we use money in three ways.

As a Medium of Exchange, as a Unit of Account, and as a Store of Value

In essence we can trade things that are largely valueless for things with value. A piece of paper, a coin made of a metallic material, whatever, for things of intrinsic value like food and supplies. We can measure our wealth with stored assets, the worth of our business, etc.

It’s my opinion that eventually there will be no need for money. There will come a point when energy is largely limitless and free and with that comes the ability to manufacture and produce for a drastically lower price. When we can grow endless crops and transport them all around the world for virtually nothing there is no need to have a price on food. When fabricators in your house can create virtually any item you might want quickly and with only the need for raw materials there is no need for shopping or for goods at all for that matter.

Yes, I’m a Utopian.

The point is once we don’t need to buy things, when things are readily available for everyone, then there is no need for money. As a Randian Libertarian I’m of the opinion that money has served a valuable purpose in advancing society to the point where it no longer needs money. Money is one of the rewards for achievement and we want to encourage achievement. Eventually it will be an obsolete reward. The reward for achievement will simply be the great joy it brings us. When we accomplish we feel good about ourselves.

Some people will have robots to tend their perfect lawns and others will work on their gardens themselves simply for the great satisfaction they get from doing so. I will write my books not to make millions but to bring myself happiness and hopefully to entertain others. I will create and play in role-playing games for the enjoyment of doing so, not any financial gain.

This is a truer ideal than doing something for money. Money is certainly necessary today when there isn’t the abundance that is coming. Money is not evil or wrong. It’s just not the point. It’s ancillary to why we do things, why we achieve.

Imagine a world in which people can largely have whatever they want. Some people will want yachts and fancy houses but those are merely manifestations of the accumulation of wealth. When we no longer need wealth, we will be free to focus on the things that are truly important. When we have true and simple comfort then fancy becomes less valuable. We will focus on relationships with family, friends, and lovers. We will strive for achievement because we know it will bring us happiness. That will be a world indeed.

I suspect I won’t be alive to see it. But it’s coming.

Tom Liberman