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Showing posts from May, 2014


After reading Mutual Banking , I want to attempt to provide an example of how such a society could function. Greene proposes a real-credit system, where notes of exchange are created upon the mortgage of real-property for collateral. Essentially the mutual bank agrees to a use-value for the home (in dollars for Greene) and is willing to give the mortgagee up to half that value to be traded as currency with an agreement to pay back said mortgage. The interest rate can be held at virtually 0 due to the non-speculative nature of the notes, creating a system of "paper money" with legal value among the mutual credit association. This credit is to be used in trade and for services among the other members of the association. As goods and services are provided, they are constantly reassessed in comparison to the use-value of competing goods on the market. The divide between real-property and currency disappears into the numerous associations' joint-ownership of all of the fo

A rant against Capitalist bargaining in the work place

The biggest flaw of a capitalist free market: the inequality of bargaining power between the wage-worker and the hierarchical corporation. "I have shown the contractor, at the birth of industry, negotiating on equal terms with his comrades, who have since become his workmen. It is plain, in fact, that this original equality was bound to disappear through the advantageous position of the master and the dependent position of the wage-workers. In vain does the law assure the right of each to enterprise . . . When an establishment has had leisure to develop itself, enlarge its foundations, ballast itself with capital, and assure itself a body of patrons, what can a workman do against a power so superior?" -Proudhon The modern day economy is a master-serf relationship as the worker must depend on his employer for every form of sustenance via his wage. It is our state enforced conceptions of private property which support such an unequal market, and so to free ourselves, we must