Economists have their hands full merely trying to figure out what just happened–and what the hell just happened?!? Izabella Kaminska of the Financial Times, whom I referred to earlier today, wonders whether they’re also unprepared for the brave new world of the next few decades. But who isn’t? An excerpt from her post:

“To get a bit more Kurzwelian on the matter — let’s consider for a moment that the world really is on the verge of a technological revolution equal to, if not greater than, the industrial revolution of the 19th century. The singularity, if you will.

We’re talking epic sci-fi mega trends.

Looking at just a few of the technologies futurists tell us might be common place by the time today’s 50-year US Treasury bonds gilts mature…

…let’s start with the one that would undoubtedly have the most striking impact on conventional economics — life extension.

We’re talking about a world where every child born will have the potential to live for at least 200 years, if not more. A world where medical advances crossed with developments in biological nano technology, bionic limbs and robotics mean life expectancy becomes limitless.

Now imagine a world where the human brain has been reverse engineered in such detail that all memory content can be routinely downloaded and backed up, and eventually re-uploaded to new synthetic bodies, time and time again. Eternal life, ortranshumanism, for want of a better word.

Plausibility of the latter aside, life extension of no more than 10 years alone would have dramatic enough consequences on pension funds. Anything more, especially in the current low yield environment, and the pension model starts to be threatened.

So, imagine managing pension liabilities in a world where everyone lives forever?”