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RichardKennaway comments on Estimate the Cost of Immortality - Less Wrong Discussion
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Would someone be able to enlighten me on what the cons of a hypothetical situation in which everyone on the planet decides to temporarily get rid of the concept of money or currency, and pool our collective resources and ideas without worrying about who owes who? I mean on paper it sounds great, and obviously this is extremely hypothetical as it's virtually impossible to get all human life on Earth to actually do that, but are there hidden cons here that I'm not really seeing?
I've not really gone into too much thought on this, it was mostly a fleeting thought, and I was curious what others thought.
Free shops and online equivalents like Freecycle work for people getting rid of stuff they don't want, but not for much beyond that. For people to create complex and valuable things, such as pencils, what institutions would you have instead of self-interest, security of property, contract law, and a medium of exchange?
That is not to say that those institutions are the only possible ones, but I don't know of any others that do the job. Communes don't scale, or last. Central direction only scales up into a disaster.