Simply a knocking job?
Dear Editors,
Debate is useful and I accept that it is wrong simply to accept new ideas uncritically. However, Adam Buick’s contribution on LETS is simply a knocking job. He makes a number of errors in his description of LETS — for examples the recording of transactions is typically already paid (in local currency) not just "voluntary" — but these are secondary in importance. His real concern is to brand LETS activists as “currency cranks".
Adam Buick's own vision of a non-exchange economy is described in one closing sentence. Could he write as much on this in terms of practicalities as he did in criticism of LETS? I look forward to reading it. The idea of a non-exchange economy has in the past been based on the abolition of the concept of property or on the common ownership of property. Both ideas have a history.but neither have established any convincing vision of what the pattern of social relations, the model of social institutions and the organisation of production would instead be in such a world.
However, there isn't a lot of point in dialogue if you're going to be dismissed a crank. Yes. Fritz Schumacher, among others. said that a crank is a small, metal tooth that makes revolutions but this wasn't what was meant.
Get your facts right on LETS. Accept that the mainstream will regard both of us as cranks. Explain your own ideas rather than leave them to the last sentence. Decide whether you are interested in practical, small-scale change as a seedbed for wider transformation. And then we can have a useful discussion.
Reply:
We did get our facts right.
Your “correction" — to the effect that LETS members normally have to contribute to the scheme’s running costs — strengthens not weakens our argument that such schemes are strictly limited as to the size they can attain without becoming too costly to run.
We never said that members of LETS schemes were "cranks", only that currency reformers of one kind or another had latched on to these schemes as a way of promoting their cranky ideas, in particular that of a new kind of money that can’t be accumulated and can’t yield interest.
In response to your request for more information on how a society of common ownership and production directly for use without buying and selling could work we are sending you a copy of the new edition of our Socialism As A Practical Alternative pamphlet. Hopefully, after you have read it the dialogue can begin. — Editors.