Douglas Rushkoff

Douglas Rushkoff Keynotes - He is known for coining the terms “viral media” and “digital native,” and wrote the first...

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Douglas Rushkoff's outdated monetary system speech promotes the idea that the currency being used at present is one that has not been altered to incorporate the major role that having an abundance of goods or services has on the economy.

In the Middle Ages, the economy shifted from a abundance-based system to a scarcity-based system whereby the richest members of society increased their wealth by lending money to other citizens. Rushkoff explains that this system is dependent on growth and the need for less wealthy citizens to be constantly reliant upon loans -- which allows money lenders to profit from the interest off of those loans and to create value without needing to develop anything new.

As explained in this outdated monetary system speech, having an abundance of something, such as online content or renewable energy, is in direct contrast to a monetary system that relies on a lack of goods and services.