The ‘Accelerating TechnOnomic Medium’, or ‘ATOM’.

Waestrel

Interesting whitepaper I found, discussing technological deflation, Moore's law trends in economics, GDP and human advancement.

http://atom.singularity2050.com/

It picks up on a lot of issues that seem to be current. Interesting perspective to say the least. And its true, that we often accept the declining price yet increasing performance of our consumer electronics, but have never considered in the context of the larger economy. I especially like his approach to citizens income type payment

Anyway, take a read, its good.

KyussBeeshop

There are a few fundamental flaws in his argument - he's conflating the decreasing cost of production of technological devices, and technological efficiencies they provide, with the term 'technological deflation', as if it's going to cause a wider trend of deflation in the economy, requiring more action on the part of central banks for creating money to counter deflation.

From the very start, that's a flawed assumption, as the productivity/efficiency increases from technological development won't be that predictable, there are still fundamental limits on how much technological advances can contribute to efficiency, and all of production is still ultimately tied-down to energy production, which we are already producing too much of (in terms of how it impacts the climate), and we are looking at at least half a centuries worth of technological/infrastructural development (if not more) in energy, before we can safely continue to exponentially expand (for a limited time) energy production, without negatively affecting the climate even more.

The idea of eliminating all forms of tax is also not credible, because (although this is a bit controversial) taxes are the primary way in which states achieve a de facto currency monopoly - stopping people from switching to other currencies - by mandating that taxes be paid in a particular currency. Without taxes, another system for enforcing a currency monopoly is required, or multiple currencies may develop in competition with the primary currency, possibly becoming dominant (e.g. through Greshams's Law) - risking loss of central bank control over this major part of the economy, and potentially threatening democracy as the issuer of a currency holds enormous coercive power.

There's also a heavy touch of AI 'magical thinking' in his articles, which unfortunately has become very popular these days - the predicted effects of AI are massively overblown, both in disruptive effect and the timescale people think it will be achieved in, and are not really anything to be worried about in our lifetimes.

He also displays the same fault in thinking, that a lot of mainstream economics silently assumes: He assumes that exponential growth will last forever, when this is physically impossible.

He also promotes the heavily flawed Basic Income idea (which is commonly perpetuated alongside AI), which can be 1: Converted into a business subsidy over time, by slashing wages in line with the basic income; 2: Used to destroy the welfare system, by replacing all welfare with the BI, and then decimating/eliminating the BI payout upon the next economic crisis; and 3: Used to destroy Progressive Taxation, by replacing it with a Flat Tax (which is what it is commonly paired with).

He also spends a long time dressing-down the entire idea of inequality. Doesn't seem to care what kind of effects his system would have on it, just plays down the idea of even being concerned about it.

Later on, he devolves into utopian thinking about space travel, without any examination of the economics behind it - it doesn't provide a means of continuing the trend of exponential growth off of Earth.