Dapprich, P. 2023. Tokens make the world go round: socialist tokens as an alternative to money. Review of Evolutionary Political Economy. 4, pp. 497-513. https://doi.org/10.1007/s43253-022-00091-6
| Title | Tokens make the world go round: socialist tokens as an alternative to money |
|---|---|
| Type | Journal article |
| Authors | Dapprich, P. |
| Abstract | 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. |
| Journal | Review of Evolutionary Political Economy |
| Journal citation | 4, pp. 497-513 |
| ISSN | 2662-6144 |
| 2662-6136 | |
| Year | 2023 |
| Publisher | Springer Nature |
| Publisher's version | License CC BY 4.0 File Access Level Open (open metadata and files) |
| Digital Object Identifier (DOI) | https://doi.org/10.1007/s43253-022-00091-6 |
| Web address (URL) | https://doi.org/10.1007/s43253-022-00091-6 |
| Publication dates | |
| Published in print | Oct 2023 |
| Published online | 17 Oct 2022 |