Recently over at “ The Warrior Class Blog ” Will Brown wrote an article on the need for a singularity model of economics. This piece was also discussed at the Speculist by Phil Bowermaster. This was a very interesting article and while I wholly agree with Mr. Brown's assessment that we are in need of a serious singularity model of economics I must disagree with his equating of money with economics (if I understand him correctly).Here are a few points that I would add to this line of thinking:

To begin I would like to see a singularity model of economic that is very interdisciplinary. What I mean is that human economic activity and political organization is the result of both the biological and memetic evolution of the human species. As such Economics must become a more integrated science based on interdisciplinary principles.

Now having said that let us take a very brief look at the history of the economic exchange of goods.

The evolution of the technology of exchange corresponds to the evolution of the technology of economic productivity. The technology of exchange begins with civilization. Civilization emerges from human techno-memetic evolution when the technologies of writing and agriculture are developed. At this stage of civilization records are kept and credit is given but there is no standardized medium of exchange. This state of affairs leads inevitably to the adoption of a standardized medium of exchange – usually gold or silver. From this early stage in human civilization until the beginning of the industrial revolution gold served as an almost universal currency and was identical to money. At that point in history the banknote was invented and thus begun modern finance. However, even though banknotes have been used since at least the seventeenth century it has only been since 1971, following the Bretton Woods Accord, that most of the worlds governments began issuing fiat currency. This is the difference between money and currency. Money has an inherent worth or can readily be exchanged for a predetermined amount of something with inherent worth (such as gold), Fiat currency has no inherent worth and its value is subject to manipulation by governments and others with a great deal of power.

When this is understood one must conclude that economics and money are in no way the same thing because economic activity continues on, ever more rapidly, without the existence of money.

What now exists in place of money is a system of trust wherein members agree by dictate of law to accept a fiat currency in exchange for goods and services. One cannot become wealthy in such a system by merely accumulating money (as was once possible) but must accumulate capitol, i.e. the means of production.

In a society where capitol is centralized, wealth is concentrated into the control of the few. If there is only one power plant then whoever controls that plant is very powerful indeed. And if the enormous high-rise apartment complex is owned by one company then, again, that company has a lot of power.

But what happens in a decentralized society that has been altered by design-science revolution? Such a society is one that I believe we are currently building – or at least making possible. What happens when individuals are not dependent on the centralized and monopoly owned infrastructure of life? What happens when an individual can own a domicile for a relatively small amount that is completely self-sustaining – able to produce all of its own electricity, fuel, food, and tools? Such a time is around the corner.

Once this economic state of affairs is achieved the age of monopolization of the infrastructure of life will be over and so will the present politico-economic organization with all of its inefficiencies.

When, or if, this state of affairs comes to fruition how much capitol one owns will not define wealth since the entire infrastructure of life will be decentralized and since molecular nano-fabrication will end all scarcity (or destroy the planet). Once this revolution is fully developed all human interrelation will be based on meaningfully dialog. The only exchange will be the exchange of ideas and collaboration. The only wealthy man will be the self-actualized man.