first paper in our Special Issue on "Enviosioning post-capitalist utopias via simulation" published online in Review of Evolutionary Political Economy, a great paper by Jan Philipp Dapprich on
"TOKENS MAKE THE WORLD GO ROUND: SOCIALIST TOKENS AS AN ALTERNATIVE TO MONEY"
https://link.springer.com/article/10.1007/s43253-022-00091-6
#capitalism #socialism #utopia #simulation #politicaleconomy #economics #money #planning #socialistcalculationdebate
stay tuned, more of this coming in our special issue within next year
Tokens make the world go round: socialist tokens as an alternative to money - Review of Evolutionary Political Economy
The paper argues that non-circulating tokens should be used as an alternative to money in a socialist economy. These tokens would be used to distribute consumer products out of socialised production to individual consumers. Like modern fiat money, these tokens are a kind of IOU. But unlike money, these tokens are not intended to facilitate the private exchange of commodities. Marx’s proposal to eventually abolish a token-based lower phase of communism in favour of a distinct higher phase is rejected because the ‘needs principle’ of the higher phase can be sufficiently realised within the token system. It is further shown that the prices of items should not be tied to the socially necessary labour time needed to produce them. Instead, prices should be regulated towards market clearing rates.