Post-scarcity is not just a recent idea, predicted in such work like The 2nd Machine Age as a result of the imminent and highly anticipated singularity, and it is not just the necessary condition for implementing the communist dream, it is the world of Star Trek (after the Original Series). Manu Saadia tries to analyze this science fiction utopia in Trekonomics from an economic perspective.
It’s all there and, still, it also seems lacking.
Saadia clearly identifies Star Trek (of The Next Generation, Deep Space Nine, and Voyager) as a post-scarcity society. The Replicator, the technological offspring of the Transporter of the Original Series, can produce any goods you want. As a result, in the Federation, there are no unfulfilled material needs anymore. The economic problem has been solved by abundance.
The existence of the Replicator is, however, not a sufficient condition. Saadia, identifies this, too. Only the free (as in speech) and free (as in beer) access to it, effectively the provision of the Replicator as a public good, allows Federation citizens to enjoy the benefits of goods at marginal costs of zero. Instant recycling reduces the cost of any choice further (in terms of post decision regret and resources forewent), it eliminates any lasting material consequence, basically eliminating the need to consider tradeoffs. No economic problem remains.
Hence, a technology able to create abundance and a policy decision to allow free access to this technology (eliminating capitalism) are necessary for creating the utopia of Star Trek.
Saadia also explains the absence of money - a consequence of having all necessities and even luxury goods freely available (How do you define these in the absence of an income elasticity of demand?), there is no need for exchange and therefore no need for a numeraire that can serve to facilitate exchange. He also explains the absence of paid work (the marginal product of labor must be zero in material terms if the price of goods is zero) and the shift to status seeking instead. Status seeking is then also responsible for even further development and improvement of technology.
Capitalism was required to create the knowledge and the machines; once production reached its singularity society was able to transcend.
All in all, Saadia identifies the key points.
He also discusses singular topics like externalities, collective action, and the curious case of the merchant race, the Ferengis. (So, there still is trade after all!)
So, why seems Trekonomics lacking?
Saadia puts the cart before the horse. The economic implications of the Replicator are only discussed after he tells about the absence of money, the change in the nature of and motivation for work. And only then he mentions the importance of policy, growth, and the limitless resource: ideas. This sequence, I argue, hinders an in-depth and logically progressing analysis of the economic history of Star Trek.
While the exposition is easily grasped by laypersons, some more technical discussions (maybe in appendixes) would have been (more) fun for the more trained (in economics) Star Trek aficionado.
Trekonomics is very much a personal account, the general Sci-Fi affinity of the author is obvious and, of course, appropriate. It is appropriate that Asimov gets plenty of credit for his influence on Sci-Fi in general and Roddenberry and Star Trek in particular.
If I write that Trekonomics is lacking it is not because it is bad. It is because it could have been (and I hoped for) more in-depth, more detailed, more an Economics of Star Trek, more an Economic History of Star Trek, more… just more.