I mean to say that your concern with the 'solidness' of a money's valuation (relative to its face-value) belies / indicates your inclination towards the *capitalist* side of things -- a more-leftist stance wouldn't give a *shit* about underlying monetary valuations.
I don't understand what you're accusing me of. I expect the value of money to float like it does today. It's not tied to anything unnatural. You'll have to be more specific, otherwise I don't understand why I'm a "monetarist" nor do I understand what "monetarists" want the currency to do. I expect it to be a piece of paper that buys X amount of Y for Z pieces of paper, as determined by market forces and the actions of the central bank.
Originally Posted by ckaihatsu
Okay, acknowledged, but even with a localist worker ownership all of the market-type *financial* functions, like a firm's issuing of bonds, and/or the extension of credit to individuals, would still be at hand, correct -- ? This means that the market-type economics would take on a life of its own, as it does today. People could spend more than their share of the firm's revenue, and firms could be forcibly taken over financially, etc.
Again you're ignoring the very-real potential and possibility for this "market socialism" to lose the 'socialism' aspect altogether because of its allowing of financial operations -- so while the good-behavior workers would dutifully put their wages into the *public* banking system there'd also be -- per your acknowledgement -- wealthy individuals who could very well *out-compete* the public banking system through their greater market capitalizations. They'd be able to make capital available, as for business expansion, at much better rates than what the relatively under-capitalized public banking system could manage to offer.
Okay, again acknowledged, but the financial realm remains intact -- as co-owners the localist 'workers' are no longer workers with a common class interest, but rather are more like shareholders who each have an individual stake in the company's profitability.
This structure would lend itself to a dotcom / tech company -like process and dynamic of *over-valuation*, since that's what would matter in this landscape, moreso than actual labor done or tangible revenues brought in -- again, *nothing similar* to socialism whatsoever.
Syndicalism at best, and shareholders at worst.
No, this is all a straw man. If something is incompatible with socialism, it won't be allowed. There is no reason for firms to issue bonds, for example. You'll have to explain how individuals could out-finance a public finance system that draws its capitalization from taxation of firms' capital stock. That's like saying that an individual firm could outcompete the federal government. Even in capitalism it's impossible, let alone in market socialism.
You also have to understand that this is a democracy. If something isn't working, it can be tweaked. The government can always "outcompete" a private firm by democratic process.
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