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Paul Cockshott's Blog

What then is the escape from capitalism?

What would be the essential features of a socialist economy, one the would be really achievable?

If you go back to the 19th-century socialists like Marx they saw the elimination of a monetary economy as being absolutely essential. One can read the whole of Marx’s Capital as a prolonged argument to the effect that a monetary industrial economy leads inevitably to the whole set of capitalist institutions. From money and industry comes the buying of labour power, from this comes exploitation and the class system. From exploitation stem all the other evils of the system.

Any attempt to introduce a reformed monetary economy leaves the basic logic untouched. The underlying tendencies implicit in the monetary economy re-assert themselves. The experience of hitherto existing socialism which altered property ownership without eliminating money and monetary calculation are a testimony to this inner logic. There was…

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