The new system to replace the current price system.
The main problem is that the price does not reflect the actual cost of the product. It may be higher when the product is scarce, and lower when it's abundant, while the effort of producing it is still the same. That's why technocracy introduces new valuating system which is based on so called energy-credits. The products and services are valued by the amount of energy it takes to create it. That includes the energy used to get raw materials, for manufacturing, transport, distribution and recycling the leftovers. In this case the cost of the product would not fluctuate and decrease when new more energy-efficient methods of manufacturing/transport/recycling methods are implemented.
The first point is that nowadays economy is already obsolete and causes lots of problems. The industry power is such great today, that when it's run on full scale it can produce abundance. But we have warehouses of food destroyed to keep food prices high while there are millions starving.
Another point is that currently industry is so automated, that there is little need for human labour to produce goods. This ends up in unemployment and creating unnecessary jobs, while few enjoy great wealth just because they own the machines.
The main idea of technocracy is:
1) change product and service valuating from price system to energy-accounting
2) calculate the total ammount of energy the country (most likely continent) can get, dedicate part of it for maintenance of Technate (technocratic society) and the rest divide equally among all citizens. At the end of the balance period (24 hours, week or month) all energy-credits are zeroed and calculated anew. Also the supply of particular products are modified to meet the demand +a little surplus.
3) using technology to create abundance for all people. That means to use technology to automate industry as much as possible, run the manufacturing machinery as much as to meet population's demands for products, develop synthetic analogue materials for scarce non-renewable raw materials, use recycling to get raw materials (the cyclic consumption), reduce waste to minimum and find new ways of getting unlimited ammounts of energy.
There are requirements to establish technocracy:
1) continent with all kinds of raw materials and vast energy resources
2) continent with enough technology and means of production to create abundance
3) experts and scientists to run the technology
In technocracy the money-related crime will perish (95% of all crime), competition and stress removed, energy-credits is not subject to theft, gamble, hoarding, bribe, transfer, debt or interest. Because all the people get their personal (no one else can yous your energy-credits) equal part every new balance period, and this ammount is enough for abundance (most cases you won't spend half of it). It doesn't matter if you work or not, you get it as a right of citizenship.
In technocracy you will only have to work about 160 days a year, 4 hours a day, 4 days a week (ant that's according to calculations made in 1930), as the time goes the need for work will decrease even more.
Also, technocracy proposes new inhabitation form, called Urbanate. Big cities are very inefficient and lowers quality of life. Urbanates are specially designed towns of 20`000-100`000 citizens. No traffic jams, polution, density, crime (typical in dense populations). The houses built of sound-proof durable materials with all the hi-tech installation (from humidity control to automated lighting systems).
Small size (perhaps 20,000-100,000 people)
Planned, top-down design
Pre-installed, integrated transportation, utilities, and communications
Safe, pollution free environment
That's only a small part (a few main points) of technocracy.
Some people might find it similar to communism, but this is not correct. Technocracy is non-political (democratic controls on non-technical issues and decisions). It's not "from everyone according to his abilities and to everyone according to his needs". It's "abundance to everyone".
A thoroughly scientific method of control of the technology of the continent.
Democratic controls for all non-technical issues and decisions.
Removal of methods of scarcity such as money, debt, value, and interest.
Replacement of these methods with an empirical accounting of all physical resources, products, and services (called Energy Accounting).
Productive capacity many orders of magnitude higher than currently possible, without requiring any new equipment.
Decrease in human labor required to produce these amounts through proper use of automation.
Higher standard of living for ALL citizens in terms of income, housing, health care, education, and leisure.
Elimination or vast reduction of various social ills, such as poverty, crime, pollution, insecurity, and disease.