Cooperative Economics vs. Technocracy
Instead of creating a Cooperative Economy, Cryptocurrency creates a Technocracy
Cryptonomics: Instead of creating a Cooperative Economy, Cryptocurrency creates a Technocracy.
Would we rather have computer programmers as the new social ruling class? That’s called a Technocracy, when the technocrats overthrow the banks and become the new ruling class! That’s essentially the direction Cryptocurrency is taking us in. Crypto is not the solution because it introduces one more degree of separation into an already convoluted system. How? It funnels wealth to a new highly specialized social class that control the money supply ~ the computer programmers.
Cooperative Capitalism could actually work well. Today, capitalism itself is not the core problem. The system we have right now is actually not capitalism. We rely heavily on debt and interest to keep the system going, and credit/debt isn’t the same as capital. Another word for interest is “usery.” So from that perspective, we have a system of “Userism,” which sounds like people are being used.
A solution would be Cooperative or Ethical Capitalism.