Good article. The subject matter is a little tricky to understand in any detail.
To skip all the detail, and jump to the simplified nutshell at the end:
"At the very least, people deserve to understand the stakes around this: a world where money is no longer something you own, but something you rent from a system that can rewrite the rules whenever it likes. Good luck getting that across, though — for many people it would require looking up from their TV or phone screens for half a minute to notice what’s coming down the tracks towards them. But try we must, because none of this is inevitable if more people understand what is happening. "
BTW the name Clare Wills Harrison rang a bell, in another situation where the public, to its severe cost, failed to pay sufficient - or rather, any - attention to actions ‘behind the scenes’:
“but something you rent from a system that can rewrite the rules whenever it likes.”
So you don’t own the money - it just represent your current balance, in the opinion of the algorithm - which may not yet have seen your latest social media posts, or your crime against the climate or infectious diseases policy.
But at least as big an issue is that word ‘rent’. Rent turns an old fashioned profitable transaction into an ongoing milking job, where you are the one providing the milk.
This is one of the main ideas behind Yanis Varoufakis’ Technofeudalism’. Old style feudalism, where someone with an army commandeers the land and makes you pay rent for it forever…the difference being that what you pay ‘rent’ for may not even exist - just like that money you had in the bank.