Yeah, let’s turn our time itself into a capitalist currency, how can this go wrong?
The problem with monetary systems is that they fundamentally do not distinguish between ill-gotten gains and mutual aid. Someone who leverages their power over someone to take all their money will have all their money, and unless that form of leverage was a crime, the economic system rewards that behavior and empowers them to exploit more people.
If you let your time become capital, you will either spend most of that time working for rich bastards that gamed the system, or you will selective break the promise made by the currency and they will become untrustworthy as a means of exchange.
The proposal described in the article requires a massive amount of infrastructure coordinating who is able to provide what and who needs what. That’s the valuable part. The money is just a terrible way of determining who gets priority.
Yeah, let’s turn our time itself into a capitalist currency, how can this go wrong?
The problem with monetary systems is that they fundamentally do not distinguish between ill-gotten gains and mutual aid. Someone who leverages their power over someone to take all their money will have all their money, and unless that form of leverage was a crime, the economic system rewards that behavior and empowers them to exploit more people.
If you let your time become capital, you will either spend most of that time working for rich bastards that gamed the system, or you will selective break the promise made by the currency and they will become untrustworthy as a means of exchange.
The proposal described in the article requires a massive amount of infrastructure coordinating who is able to provide what and who needs what. That’s the valuable part. The money is just a terrible way of determining who gets priority.