On Friday, August 27, 1999 2:17 AM O'Regan, Emlyn
> > No, I'm saying that it is only perfectly, 100% reliable if there are no
> > natural monopolies, and nanotech would get rid of those few situations I
> > can
> > see where a natural monopoly might actually exist. Without nanotech we
> > merely have a system that is 99.9% reliable - local monopolies and
> > can occasionally form around unusual resource scarcities, but tend to be
> > short-lived in the absence of government intervention.
> > IOW, the free market isn't perfect, but it works much better than any
> > other system humans have ever devised.
> With nanotech, where's the need for a market at all? If it irons out all
> bumps due to resource scarcities, so vanquishes scarcity, why do we need
Information might still be traded.
And nanotech, itself, will not abolish scarcity. It will merely switch around the level and types of scarcity. Currently, air is hardly considered a scarce commodity, yet there is still a market in lots other things AND air quality is marketable item.