Tech will be an increasing factor in all systems particularly the economy in the future, and tech like every other factor will be “a two edged sword” until we begin to fully cognite on wisdom as being the process of integrating and resolving opposites, as paradigm change being the temporal universe expression of that wisdom and the natural philosophical concept of grace as the concept behind every historical paradigm change.
Although we should be aware of deception and distraction from solutions as Norbert explains the system and its policies need a paradigm change not the a change in the debt based nature of money or ways that hide or obscure the current paradigm of Debt Only and make its final coalescence more likely with cashlessness….without the security of having a universal dividend to back such an idea up.
Paradigm perception avoids piecemeal and incomplete analysis. For instance it is obvious with a look at Steve Keen’s advocacy of “a modern debt jubilee” that it is merely a one-off static reflection of the actual new paradigm of Monetary Gifting and its policies of an ongoing universal dividend paired with a high percentage discount/rebate at every point of sale throughout the entirety of the legitimate economic/productive process. Being a critic of stochastic equilibrium he should be more careful about advocating only a non-dynamically interactive stochastic remedy.
Michael Hudson is also correct in indicating that the business model of private finance is parasitical. However, he fails to call it completely like it really is by not recognizing that PRIVATE finance’s virtual monopoly powers of money creation, its equally monopolistic paradigm for the form of monetary distribution of Debt Only and the fact that increasingly its product is an additional cost post retail sale…and so it is not a legitimate business model because the legitimate end of the economic/productive process is the point of retail sale.
If they cultivated the holistic mental skill sets necessary for paradigm perception as much as the inductive approach they generally use they’d be better able to see these things, the single concept that defines and creates the pattern that is a new paradigm and then more easily and more accurately craft policies reflecting it.