Resource Based Economy
A major theme of Jacques Fresco‘s is the concept of a resource-based economy that replaces the need for monetary economy we have now, which is “scarcity-oriented” or “scarcity-based”. Fresco argues that the world is rich in natural resources and energy and that — with modern technology and judicious efficiency — the needs of the global population can be met with abundance, while at the same time removing the current limitations of what is deemed possible due to notions of economic viability.
He gives this example to help explain the idea:
- “At the beginning of World War II the U.S. had a mere 600 or so first-class fighting aircraft. We rapidly overcame this short supply by turning out more than 90,000 planes a year. The question at the start of World War II was: Do we have enough funds to produce the required implements of war? The answer was No, we did not have enough money, nor did we have enough gold; but we did have more than enough resources. It was the available resources that enabled the US to achieve the high production and efficiency required to win the war. Unfortunately this is only considered in times of war.”
Fresco states that for this to work, all of the Earth’s resources must be held as the common heritage of all people and not just a select few; and the practice of rationing resources through monetary methods is irrelevant and counter-productive to the survival of human civilization.
One of the key points in Fresco’s solution is that without the conditions created in a monetary system, vast amounts of resources would not be wasted unproductively. Instead Fresco’s contention is that without the waste of resources on ends that would become irrelevant there would be no