Doug Henwood on Mon, 21 Jan 2002 00:52:40 +0100 (CET) |
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<nettime> dollars & donuts |
nettime's_furrin_exchange wrote, quoting Keith Hart: >So Doug Henson is right to point out that most existing community >currencies operate at a low level of complexity and they cannot organize a >full-scale capitalist division of labour. Henwood, actually. The usual error is Henning, so this is a refreshing departure. I'm assuming the point isn't to reproduce a capitalist division of labor. 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. How else would you exchange potato chips for computer chips? Have you given much thought to production? The labor market? Relations of authority between bosses and workers? How investment will be planned and financed? I've seen no evidence yet that LETS people have given much thought to the economic fundamentals that the money system embodies. It's the money illusion raised to the level of a political philosophy, it seems. Doug # distributed via <nettime>: no commercial use without permission # <nettime> is a moderated mailing list for net criticism, # collaborative text filtering and cultural politics of the nets # more info: majordomo@bbs.thing.net and "info nettime-l" in the msg body # archive: http://www.nettime.org contact: nettime@bbs.thing.net