Greek Labor Voucher Sub-Economy

[Workers-Control-Over-Prod]

Interesting video of Journeymanpictures here (http://www.youtube.com/watch?v=xsD1I9bOgEs). The character of this sub-economy and currency TEM, is quite clearly that of Labor Credits. TEM are only issued for Labor done and cannot be accumulated over a certain amount, making it quite clearly an anti-capitalist, socialist currency within the Greek failing capitalist Euro economy.

[Die Neue Zeit]

Is this really labour credits, or "labour money" a la Proudhon, LETS, etc.?

[Book O'Dead]

Despite the attractiveness of this scheme, nothing can take the place of either inverting the profit/wages ratio or abolishing the profit/wages system altogether. That is the immediate objective of socialism.

[Workers-Control-Over-Prod]

Is this really labour credits, or "labour money" a la Proudhon, LETS, etc.?

Yes, i had not heard of "Labor Money", but that seems more precise. What is the critique of Labor Money contrary to Labor Credits?

[Die Neue Zeit]

^^^ LETS and all other labour money currencies circulate, unlike labour credits.

[Raúl Duke]

Hey, let's not dismiss it out of hand.

It shows that the Greeks are keen to create alternatives to the status quo, the kinds of things (taking over the workplaces and means of production being the most paramount thing) that need to happen; that need to grow out of a decaying (hopefully overthrown sometime) system. Maybe they're not perfect and perhaps it's not (yet) socialist enough but there's always a chance for these alternatives to evolve with the input/control of the working class.

[Lynx]

This allows for economic activity that would not otherwise have occurred.

[Die Neue Zeit]

Hey, let's not dismiss it out of hand.

It shows that the Greeks are keen to create alternatives to the status quo, the kinds of things (taking over the workplaces and means of production being the most paramount thing) that need to happen; that need to grow out of a decaying (hopefully overthrown sometime) system. Maybe they're not perfect and perhaps it's not (yet) socialist enough but there's always a chance for these alternatives to evolve with the input/control of the working class.


This allows for economic activity that would not otherwise have occurred.

Comrades, I have not dismissed the concept of "labour money" at all:

http://www.revleft.com/vb/local-autonomy-and-t106241/index.html

[Workers-Control-Over-Prod]

Well, i am quite excited by all the developments at the moment. If you compare this time with a mere five years ago... Ages!

[ckaihatsu]

It really reveals the shittiness of capitalist deflation -- unavoidable unless Volos-type conscious group efforts are made to situate the economy on a different consensual social basis. The logic of capitalist economics is to extract value endlessly -- 'primitive accumulation' -- into the currency itself, even at the expense of actual circulation and actual utility. What winds up happening is an economic landscape of islands of hoarded value, but very little movement. As things slow down the hoarding logic still doesn't stop and demands *more* extraction of value while people's *needs*, on the other hand, are for real-world *timely* circulation and an ongoing *flow* of value.

Hopefully this will continue to be dynamically 'bottom-up' and will expand on the strength of its social merit, to include areas that are currently stagnating or hoarding due to use of the Euro currency.