Similarly, the turmoil in payment systems is directly related to this fundamental. And if you understand some issues with scale…. so are the problems in banking and credit creation generally*.

*Money… at its very root is a tool for the transfer of ‘decision’.

The “lever” that will re-balance the transaction landscape is the Commons-dedicated Account. This has much more to do with the implications and added capabilities of the resulting network than with its role as a lobbying utility. (though its potential as the vehicle for the public funding of elections may have appeal as a natural response to Citizens United)

Fortunately, it seems that some consortium of smaller, local banks may find interest and see benefit in the creation of such a network since its associated Trust Accounts would be placed in local banks only.

I’m also naturally pleased that the Patent Office saw the clear utility of this high level capability.

I’m 62 and homeless. (Thanks Wells Fargo!)

BUT…
Do I agree with general sentiments of article – check

Is it easy now ? – no – was it easy then ? no.  

Do we throw resources at essentially pointless concepts when half of the world are starving – check.

So the big difference:

Morse worked in Technology when the concept was to build a better, bigger, more rational, productive society.
We now have a bigger, more technical, but less rational society, and we have to figure out how to step back to within sustainable resource limitations.

If Morse had an opinion on today’s society – I suspect such a  resourceful man would express disgust at our wastefulness.