Plato, Venture Phillantropy, and the Economics of Abundance

Plato — in both the Republic and then later Laws — maintained that, to prevent the rise and spread of vice and avarice, private property needed to be abolished. Only when wealth would be removed as a precursor of power, could the natural aristocracy, the "philosopher kings", rule. When, and only when, virtue was the lone remaining claim to power could this desired outcome be achieved.

What if the production of consumption goods becomes so cheap — as we can now observe in China — that the ownership of private property no longer differentiates individuals by what they consume? Hasn't it become increasingly difficult to be extravagant to seek social differentiation? After all, wearing Prada or driving a Porsche are no longer a luxury of a privileged few.

Chris Anderson talks about the Economics of Abundance in his Long Tail. He asks what will happen when nanotechnology and AI meet to produce endless customization. Isn't that already happening? Can't we customize our Nike? Our news? Our entertainment?

What value is there in private property once consumption becomes commonplace — a coomodity? Then the 'lone remaining claim to power' of private property is the power to give. And give is what they did.