Sunday, October 20, 2013

Who Owns the Future Chapter 3

Jaron Lanier  discussed the invention of money. Yes, it is great that we have a universal way to value objects and we no longer have to worry about bartering or as Lanier expresses having to worry about losing  a wandering sheep. He also talked about that with the technology of money changing, we don't stop to think about the history of the bills we have sitting in our wallets right now. What was bought with these before? Was it used to take cocaine? Would we really want to keep these bills if we actually knew what they were used for? He also brings up the point that a lot of our major purchases (houses, cars, etc.) are paid with imaginary money. Few people have the money to be able to buy a house with cash. This is when mortgages come into play. Yes, the house is bought, but it is with the money that the person is promising to earn and pay in the future. With the changing technology and money becoming more technology based how are things going to change in the future? Everything is done by computers now. How easy is it for an individual to hack into a computer and change anything about another's bank account something along those lines. It is a scary thought to have.

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