this post was submitted on 26 Jun 2025
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All of the jobs needed in society are not all of the jobs people would do if left to their own pursuits. Incentives are required.
Yeah absolutely. Material incentives are needed, but they don't need to be so high, just fair. Certainly not a monopoly over predictable technological progress (more or less predictable) that allows them to prevent people using that progress. Especially since that monopoly is being captured by capitalists.
And incentives can and should be non-materialist too. Think of a oscar or grammy show for the best new inventions. Or something similar to crowdsourcing platforms where people can vote on what inventions they want to see rewarded and implemented. A bank that can finance risky ventures like this instead of concentrating more wealth. We have more tools and possibilities today and we need an updated economic theory that can use these tools.
The idea of a lone inventor that can profit of his own invention is sort of like fantasy economics today. I believe it comes from comics and superhero movies lol. Reality is privatizing profit and socializing the costs of previous research and slowing down implementation of progress.