The law of human nature

There is one powerful ‘law’ that drives human nature. It has many instinctual components and some of those hit us individually when we least expect them, and some of us have a rare intellectual bent but, by and large , we are all driven by one trend, as if carried along by an ocean current in a raft without a sail.

Most of us most of the time do what our principal social group tells us to do. Our principal social group, of course, is our working group — the one by which we earn a living. This doesn’t necessarily mean that we can determine our overall economic future in the same way that we can often do so in the case of other practical systems, the reason being that the same intellectual bent mentioned above has also produced a variety of specialized working groups. The economy of the future is the result of all these groups working together — sometimes in association, sometimes in opposition.

The one thing that can be said about our economic future is the same that happens to all physical systems that we observc.  It will stabilize in a mode of ‘least effort’.  It will make use of whatever energy inputs it has (solar energy plus a variety of its by-products) in order to produce the most efficient system. This has two consequences: (a) There is nothing that governments can do to affect their ultimate future by way of altering the money supply or changing interest rates; (b) economics as a subject now has a chance of becoming a scientific study.

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