1930s shenanigans. Everyone jumps to the Nazis but we must not forget the Technocrats, especially since Elon’s grandparents were silvershirts. I’m sure Thiel and the others are on board with technocracy.

The Technocracy movement had its brief heyday in the 1930s, its leading proponent engineer Howard Scott (1890-1970) and his Technocracy Incorporated, founded in 1933. The movement was ideologically somewhat diverse and fractious, but Scott’s version was fueled by the Great Depression and the crisis of capitalism, quack economics, post-First-World-War isolationism, and an infatuation with Fascist form and ritual. At the core of its ideology was a rejection of the “price system” underlying the global economy, in which money as a medium of exchange determines the value of goods and services and financial considerations are fundamental to all economic decision making. Citing the Depression as Exhibit A, movement adherents viewed this system as inherently unsustainable and predicted a total system collapse no later than 1940.

Technocracy Inc.’s prescriptive program had economic, political and geopolitical elements. At the core was a shift from the price system to what Scott called “an energy theory of value”, in which goods and services were to be valued based not on money but in terms of the energy inputs required to produce them. This in turn would necessitate the abandonment of democracy and the embrace of a technocracy—government by an unelected, technically skilled, empirically-driven elite with the expertise necessary to determine values and make rational resource-allocation decisions. The outward manifestations of this authoritarian outlook had a distinctly Fascist flavor: Technocracy Inc. members wore a uniform of double-breasted suit, gray shirt, and blue tie, with the red Technocracy logo worn on the lapel; drove gray-painted cars; and saluted one another in public.

Think about using energy input as a pricing mechanism. Then think about cryptocurrency.