Book Review: The World After Capital, by Albert Wenger
In this book Albert Wenger colors outside of the lines with convincing arguments and research. The author portrays the practical possibility of a near ideal world with compelling empirical evidence from today’s state of technology. Imagine an environment in which everyone is able to pursue their individual creative energies—that’s the world Wenger predicts will occur in the foreseeable future, even citing Keynes’ prediction of an economy of leisure.
An essential foundation of this proposal is Universal Basic Income (UBI), a concept sometimes derided by even the most progressive of thinkers. However, Wenger presents as neither a progressive nor from any form of left wing thought—he describes his assessment of the human arc of history from the vantage point of a wealthy investor and entrepreneur. The idea of UBI is just what it says: Basic income, with the option of working in traditional employment if a standard of living beyond basic needs is desired by any individual. This leaves valuable room for creativity, both in areas of art and technological invention. Far from robbing people of their agency and purpose, UBI would free everyone for creative pursuits—and the beneficiaries would be society in general.
The double threats of climate change and populist authoritarianism (not unrelated phenomena) are certainly real, and Wenger offers both incentives and solutions to address these threats. Even if the world takes a (we hope temporary) detour into a darker period of human history, Wenger strikes an optimistic tone in expecting that they will be beaten back in time. The alternative could actually be the end of human existence—that’s not hyperbole, considering the climate crisis and today’s advanced weaponry.
As humanity has evolved through the Forager age, the Agriculture age, and is now in the sunset era of the Industrial age, Wenger asserts that the Knowledge age is upon us. The sooner we all escape the psychology of the job loop prison of the Industrial age, the sooner humanity will be closer to true freedom. Wenger’s predicted world might not be paradise, but its quality of life is far superior to what we have now—let’s go there at earliest opportunity.
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