Chapman Business Report: Federal Reserve Reform, Tim Canova

Chapman Business Report welcomes Tim Canova, Chapman University Professor of Economic Law and Federal Reserve Reform committee member. With host Pete Weitzner. Filmed at Chapman University in association with Panther Productions.
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[@thealienelite]

Wow what a great interview! Two concepts I have yet to hear any economist reconcile though: infinite growth on a finite planet, and the inevitability of technological unemployment.

[@bradsandler6256]

+thealienelite You presume that growth only consists of using finite resources. But the key resource we have is human creativity. We are learning more and more about recycling and re-purposing finite resources. Our imagination, which has no limit, is our only limit. Technological unemployment, should it ever come, which I doubt, will require a Communist money free society in order to function. But there will again, always be human creativity, maybe not exclusively creating art and inventing new things and ways to do things. Such a world is highly unlikely, but if it happens, it will be totally unlike the societies we live in now.

[@thealienelite]

Nice! The thing is though, without resources being finite there would be no need for money. Scarcity is the principle that gives items value. No scarcity = no need for money. Money is ruining the planet anyways, soi this is what we need; a post-scarcity society. I'm not talking about communism or anything thats existed in the past...it's time for something new. As far as employment goes, I feel there are two principles colliding with each other in this Capitalistic sytem: The need for employment and the drive for profits, which means cutting employment costs. Imagine if every restaurant in the country deployed kiosks at the registers instead of cashiers. I used one at a Jack-in-the-box and quite franklyt it was a much more efficient and enjoyable experience. Now expand that to machines that could easily replace assembly-like jobs: burgers, sandwiches, pizzas, etc...and you can see how that would exacerbate the unemployment crisis.