hoarding

some of (in my opinion) the salient points of capitalism:

Pros:

• signals optimal allocation of scarce resources;
• theoretical 'perfect' competition provides lowest possible prices;
• no omnipotent government required, best with no government interference at all (caveat - see con below);
• proven system that has improved the lives of many people over the ages;

Cons:

• incentivises greed, suggests that the only logical motivation is to maximise profit, often to the detriment of your neighbour;
• this greed compounds over time and generations, resulting in the very profitable (very greedy) having vastly superior control of resources and therefore power;
• the GFC demonstrated the logical consequences of capitalism - greed became an orgy of excess, so blatant that the world all but disowned capitalism.  government intervention, bail-outs, regulation, became the elixir that would solve everything;
• the profits obtained tend to be hoarded to maximise future control of resources;

this hoarding bias is instinctive and logical.  in a world teeming with risk, hoarded resources provide a buffer against this risk.  it provides security, options, and eventually power, and clearly the incentive is to hoard more to obtain more of all three.  

to do away with hoarding would therefore require reduced risk, or ideally no risk.  to my mind, this means the 'state' provides all services required by the populace, such that they don't need to hoard to provide for an uncertain future.  medical, education, dental, water, electricity, food, security, housing, luxuries - if they were all provided by the state, if the populace had confidence that the state could be relied upon to provide these as and when they were required, there would be no need to hoard.

by state, i don't mean government, so perhaps i'll use the word 'system' going forward.  to my mind, competition is useful in finding efficiency, government is the opposite.  i envisage corporations, competing against each other, offering in some cases the same or similar products, but without the profit motive.  as discussed before, money is intrinsically useless.  store of wealth (ie hoarding), medium of exchange and a handy way of keeping track of who is winning.

a slightly different point of view on hoarding - all those savings sitting there for wielding future power, is depriving a child of a meal now, depriving someone of medicine, shelter, food, water.  in this context, it is morally unjust to be hoarding those hard earned dollars, but for the risk that you will need to pay for provision of these essential services for yourself or your family in the future.  but in a different system, a system where all needs a catered for by efficient private organisations, that exist just to fulfil peoples needs rather than make a profit, these savings would not be required.

also, if you don't need money as a store of wealth (as all needs are catered for by the system), if you don't need money as a medium of exchange (as everything is free, except everyone must work to obtain the right to access the free goods and services), do you need money at all?