How can we setup a karma- or results-based economy?
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Animals, primates, and early man practiced a mix of force-based and barter economies. We developed agriculture 15,000 years ago, and shifted to use less force and mostly barter, and quickly abstracted the process into two steps. We don't have to figure out how many chickens for a bushel of wheat if we just use a medium of exchange -- money. The big disconnect is that inside your home, resources are controlled by karma, results, or value to the family. We don't charge everyone for dinner. At home we track the karma of all our family members. If someone has a bad attitude and won't help with chores, they may not get a car so soon, or at all. If someone is a drug addict, they may get the bare essentials or even kicked out. And let's say your sister is always in a good mood, and always helps you when you need it; you would probably jump into a lion's cage to save her life. This results-based economy we use in our homes is a truly satisfying and fair economy. How do we set it up to include strangers? I think with the internet we can do it and the human race needs to evolve into the next form of economy. I've thought about this since college and have seen eBay start with the feedback, which is, in effect, karma. Then Google with their link juice, and Facebook with their 'likes'. More and more I see importance put on these indicators. Not only does Quora use it too, but Quora is a fountain of thinking. So I offer this question to Quorians. Capitalism is very ingrained. It seems to be taking the Russians and the middle east a generation to start thinking in the way of new economic and social rules. So please don't dismiss my quesion, or call it communism, think about it for a while. I've brought it up to 20 or 30 people over the years and usually get blank stares, or the comment "communism didn't work". I guess most people have never questioned our economic system and the game we are born into. This is not communism, unless the way you decide resources in your own home, amongst family members is communism. Communism was really just a camoflage for gang rule over virtual slaves. Again, my idea is not communism. In my system, if you do good, your karma score goes up. If you have a high karma score you get perks. It's kind of like eBay, if you have great feedback people give you more business. But it's different in that the abstracted goal, money, goes away. People couldn't chase money anymore, they would have to provide real value to people. Provide real value and you get treated better and your life is easier. Just like at home. How can we expand our wonderful home economy out into the rest of the world?
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Answer:
In a way, the economy is already trust/ karma based. Most businesses are based on trust. A bank lends you money because they think you will pay them back in good faith. If history shows you have been making payments, you will get better rates. Extending on your eBay example - as you build trust and reputation in your business, your business gets more favorable terms of trade with other stakeholders.
Keshav Choudhary at Quora Visit the source
Other answers
I'm not sure if I have the correct answer, but in my opinion, the mouth to mouth advertising looks similar to your karma based economy. When one's business able to provide a satisfying result and actually impress their customers (with their products/services quality, after sales service, etc.) the business might get good reputation/ impression which might lead to more opportunity in the future. thanks for asking!
Henry Gandawijaya
The economy reflects the values of its participants. If you can get a self stustained population of people whose values can support such an economy (even small scale like 5% of the population) then you've won half the battle. At the end of the day it's what's between the ears that determines this stuff.
Gary Payton
You are loosely speaking of socialism...which as we know failed as a system. It's far too Utopian! Also what works in smaller groups that are closely emotionally bonded won't work in larger groups that aren't. Families are trust based economic units. Countries or even villages can't be that en masse, though even in the existing order, trust is what underpins economic transactions. For example that is where risk and credit assessment come in! Your past behavior and history decides if you are eligible for loans and other credit. Service providers provide the service usually before charging (restaurants, cabs etc.) just based on judging if you belong to set of people who usually pay up etc.
Madhuri Sen
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