[Nettime-bold] Re: <nettime> dollars & donuts

[Michael Linton <lcs {AT} mars.ark.com>]

On January 20, 2002 09:49 am, Doug Henwood wrote:

> I'm assuming the point isn't to reproduce a capitalist division of
> labor. 

Right.

>But once your local currency starts circulating beyond a small
> circle of quasi-friends, then the law of value is going to start
> operating - competition based on a price system based on cost of
> inputs. 

What do you mean start?  Who said it stops?


>........How else would you exchange potato chips for computer chips?

According to comparative value, buyer - seller?

> Have you given much thought to production? 

Yes

>...The labor market?

Yes 

> ....Relations of authority between bosses and workers? 

Yes 

>...How investment will be planned and financed? 

Yes.

> I've seen no evidence yet that LETS
> people have given much thought to the economic fundamentals that the
> money system embodies. 

Sorry about that.  I wonder what such evidence would look like, to you. 


>It's the money illusion raised to the level of
> a political philosophy, it seems.
>
> Doug

The money illusion.  Perhaps if you specify just what you consider that to be 
we can discover whether "LETS people" are so elevated.  Please define,

yours,

Michael

 



















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