Is Our Monetary System Near A Singularity?

Saturday, January 9th, 2010

Singularity is described as the point when otherwise continuous mathematical progression becomes infinite. This would indicate that all continuous extrapolation breaks down beyond this point. Some feel that technology could become so productive that a singularity or period of extremely rapid growth could occur.

Singularity indicates that technical advances have interfered with economic growth. There is speculation that economic growth rates could exceed current understanding. Dr. Hanson, an economist at George Mason University, views two periods of steady economic growth based on the invention of agriculture and the Industrial Revolution. Dr. Hanson feels that another period of singularity will appear in 2075.