No wonder the developed world suffers of a national debt crisis: with the Fourth Revolution spreading, the value production systems shifts. Our traditional government funding and operation are obsolete. As well as the traditional remediation solutions.
Because tax systems are based on an Industrial Age view of the value production system, taxes necessarily shrink relative to the overall economy.
Because social support systems and government operation are based on Industrial Age view of career, retirement, social support, scope of responsibility of government, expenses continue to be huge, and to increase.
With the Fourth Revolution, instant transmittal of information and funds, and globalization, gone is the golden age of the Industrial Age where governments could resolve this dilemma by creating more money, devaluating currencies, playing with trade barriers.
The debt crisis is a direct consequence of the fact that our collective social systems are still operating under the framework of the Industrial Age while the world is already in the Fourth Revolution.
For governments, to continue along the sames lines as before will at best delay the inevitable. But that is what all governments do right now! We need to take the grasp of the fundamental shift of our societies. A Revolution in our social contract is needed. Now.
