Moneyless Society: The Next Economic Evolution

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a b Seyfang, Gill (January 2004). "Working Outside the Box: Community Currencies, Time Banks and Social Inclusion". Journal of Social Policy. 33 (1): 49–71. doi: 10.1017/S0047279403007232. S2CID 154475834. Depending on how you pay, this record may be more or less extensive and may be visible to a few or several organisations. It may comprise information that shows who you are, where you were, how much you spent, what you bought and from whom. Your smartphone might reveal just as much information, if not more, but it’s still possible to leave your device at home, or even go without one. The equivalent choice won’t be available if cash goes. The nonmonetary economy could make the labor market more inclusive by rewarding more forms of work. [2] [ example needed] Embedded nonmonetary economies [ edit ] This is a case of mutualism (see macroeconomies below) embedded in the monetary economy and restricted to intellectual labor. Typical examples are posting questions and answers on an internet forum, the production of open-source software, and the development of articles on Wikipedia. In these cases, subsistence is usually guaranteed by the monetary economy. Categories of such contributions are Commons-based peer production, Open source, Creative Commons license, and so on.

My previous response did not take into consideration that the OP explicitly states our technology level and available resources would be what they are today in their fictional scenario. That restriction severely limits the possibility for such a society, but I do still believe it would be possible so long as it was done sustainably. The world is filled with inequity, most of which revolves around money. Those born into poverty have no choice in the matter, as is our good fortune born into wealth. The success or failure of political and economic systems comes from individual circumstance for which all associated populations endure the result. Most of us have little influence on what happens beyond trying to ensure we protect and care for our own loved ones. Of course, no-one wants to give up what they have, or lesson the lifestyle and freedom that we enjoy. What are the Pros and Cons?

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People will be still somewhat motivated to do their work, but to lesser degree, as central planners have less nuanced understanding of their needs/wants. Like maybe I'm a vegetarian, an asexual, neither meat nor sex interest me. And I don't like visiting a theatre. Thus coupons for beef (and other kinds of meat), condoms (and other kinds of sex-related things) and theatre are just wasted on me. Within the presupposition of division of labour, the product, the material of private property, acquires for the individual more and more the significance of an equivalent, and as he no longer exchanges only his surplus, and the object of his production can be simply a matter of indifference to him, so too he no longer exchanges his product for something directly needed by him. The equivalent comes into existence as an equivalent in money, which is now the immediate result of labour to gain a living and the medium of exchange.” In other words, the very concept is inhuman. Worse, it depends on the removal of innovation, curiosity, the drive for improvement... (it makes Orwell's 1984 and Huxley's Brave New World look like paradise). In fact, it would require whoever is in charge (yup, something someone who isn't in charge is going to want...) to give up the very technological basis that allowed them to have the society they have. Keep in mind, such a society would require a ruling class that enforced the condition of equity — not equality, that's impossible in such a society, but equity. My interpretation of your question: "How would life look like, if it's even possible, in a society where people aren't paid anything that serves as a medium of exchange?' The biggest issue that time bank coordinators face, as a result, is funding. Time banks do not rely on volunteers, but require financial support — to pay the time broker’s salary, for a publicly accessible drop-in office, for marketing costs — to successfully attract socially excluded people in deprived neighborhoods. While many UK time banks have been supported by grant funding from the National Lottery, over time it becomes harder to secure ongoing funding, or to increase the funding available for time banks overall, and established projects close while new ones are begun elsewhere. [3] United States time banks and the IRS [ edit ]

Nelson, Anitra (2016). " "Your Money or Your Life": Money and Socialist Transformation" (PDF). Capitalism Nature Socialism. 27 (4): 40–60. doi: 10.1080/10455752.2016.1204619. S2CID 156952230. On MoneyLess.org you'll find tips for simply reducing your dependencies on money, information on alternative currencies such as the bankless currency Bitcoin and tips for living and traveling on a very limited budget. Is it possible to live without money? a b c White-Means, S. I.; Zhiyong, D. (2012). "Valuing the Costs of Family Caregiving: Time and Motion Survey Estimates" (PDF). Consumer Interests Annual. 58: 1–8. Archived from the original (PDF) on 2013-03-20 . Retrieved 2013-05-17.Imagine a world without money, without the pressure of bills, striving to amass, budgeting and all that goes with our present system. And what’s even better, without money, without power there would be far less conflict. Perhaps we would learn to live in peace and not contend with or try to better our fellow man. The benefits would be many. What money makes of Us? Filos-Ratsikas, Aris (2015) Social Welfare in Algorithmic Mechanism Design Without Money, PhD Thesis Aarhus University https://research.illc.uva.nl/COMSOC/theses/phd-filos-ratsikas.pdf Do we really need people spending 9-5 in the office with 45 minute commutes in traffic jams or stuffed trains and buses? Aren't there better ways to spend time? Abundance vs. Scarcity