As far as immortality is concerned, I think those who are set up well
with their finances will get a piece of the pie. It may very well be
that those who arn't won't be able to afford the cost of cell repair
and further life extending procedures.
Also, after the precurser distribution of nanomachines from
manufacturing companies, and we all own one in our own homes, the
need for riches, as a cash commodity could decrease. A household
nanomachine will create object's of need for us,(food, furniture
fabrication, and other physical objects) therefore eliminating the
need for shopping. There will be atomatic cleaners, showers, and
available cures. This creates questions for the work force also, will
people still decide to work, how much will be needed? This will shut
down a lot of development of tiny technologies. The economy as we
know it, will have to find an alternative route to adjust to these
new technological revolutions.
There will be ethical complications, the difference between rich and
poor where life is concerned.
The role of the government, how will it be played out in regulation
and promotion.
The rate of accelerated change will effect how readily society can
adapt.
The difference in user's as opposed to constructors will be major.
Each of these issues will effect the whole economic scenario.
Will money even be relevant in the future or a collectors item?
"Billy Brown" <bbrown@conemsco.com>
>writes:
>
>>Immortality would give everyone a chance to let compound interest
turn their pennies into dollars, and their dollars into riches. Of
course, if it becomes common for people to retire and live off their
interest the economy is going to start looking pretty strange.
>>Billy Brown, MCSE+I
>>bbrown@conemsco.com
>Interest rates are set by supply and demand. If almost everyone were
>trying to lend substantial amounts, and almost no one creditworthy
was willing to borrow similar amounts, real interest rates for sound
loans would be extraordinarily low compared to what we are used to.
Likewise for return on capital invested in stocks.
>In the economic world, immortality already exists in a sense.
>Corporations, banks, foundations, endowments, perpetual trusts,
>governments and other such entities are potentially immortal. Some
few
>of those entities which have been in operation for a century or more
have
>compounded their gains into enormous wealth. (Example: DuPont,
GE) But
>that was in an environment where safe real returns on capital were
in the
>range of perhaps 4% to 8% per year.
>
>
>Ron Kean
>
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