The cancellation lab. Life without money

The study of the philosophical and economic justifications for the process of abolition (abolition) or revolutionary transformation of money, the strategic prediction of the advent of a world without money. The formation of practical models of future money.

Philosophical justifications of the process of abolition (extinction) of money

Money is a social phenomenon that emerged in human history as a means of exchange, accumulation and distribution of wealth.

Money reflects the relations between people, classes and nations, as well as expresses the value of goods and services. However, money is a source of social problems, so many philosophers have explored the possibility of abolishing (dying out) money in order to move to a more just and harmonious society.

Plato, in his work The State, criticised the money economy for destroying the unity and order of the polis, promoting luxury and vice, and undermining spiritual values. Plato imagined the ideal state as a community of philosophers-rulers, warriors-guardians and artisans-producers, who would live without money and property, and would exchange necessary goods on the principle of mutual assistance.

In the work Capital, Karl Marx showed how money becomes capital, a self-moving force that seeks to maximise profit through the exploitation of the working class and nature.

Marx believed that capitalism would lead to crises of overproduction, concentration of wealth and poverty, and revolutionary movements of the proletariat. Marx argued that communism was the highest form of social order where money would be abolished (die out).

Contemporary philosophers discuss the abolition of money in the context of globalisation, post-industrial society and the digital revolution. Some of them propose localised currencies, social capital and cryptocurrencies. Others argue that it is more important to change people’s consciousness and culture, and to create new forms of democracy and solidarity.


Economic justifications for the process of abolition (extinction) of money

Recently, many people have been calling for the abolition of money. Such ideas are based on the belief that money is the cause of many problems in the modern world (inequality, corruption, exploitation, pollution, etc.).

According to supporters of the abolition of money, without it humanity can build a just and harmonious society based on co-operation, altruism and the common good.

However, such a radical step has not only pluses but also minuses.

Money is a universal equivalent that allows us to compare and exchange different goods and services. Without money, people would have to resort to barter. This would make trade very difficult. Barter does not allow you to measure the relative value of different goods and services because it depends on supply and demand at a particular time.

Money fulfils the function of storing value. This means that they allow you to set aside a portion of your income for the future. Without money, people would have to store real assets (land, livestock, gold, etc.). This has disadvantages because real assets are subject to wear and tear, deterioration, and theft.

Money contributes to economic growth and development. They stimulate production and innovation as they allow people to invest in new projects and earn a return on their capital. Money facilitates the distribution of resources in society.

However, money can be the source of many social and environmental problems. For example, money can create greed, avarice and avarice that lead to inequality, exploitation and conflict.

Money can create distortions in pricing. They can also undermine moral and ethical values.

Thus, money has both pros and cons for society. The abolition of money will not solve all problems, but will only create new ones. It is necessary to reform the monetary system so that it better reflects the real needs and goals of humanity.

Formation of practical models of future money

Modern money plays an important role in economy, politics and social life. However, money is not a static phenomenon. It is constantly evolving and adapting to new conditions and needs of society.

The main factors determining the future of money

– Technological progress. Technology significantly influences the design, functioning and accessibility of money. The advent of the internet and mobile devices has enabled the creation of new forms of money: e-money, cryptocurrencies and stablecoins. Technology improves the efficiency, security and transparency of monetary transactions and increases access to financial services.

– Social and cultural trends. Social and cultural trends reflect people’s preferences, values and expectations about money. Social and cultural trends can influence trust in different types of money.

– Political and legal decisions. Political and legal decisions determine the rules of the game for the monetary sphere. They set standards and norms for the development, issuance, and use of money. Political and legal decisions can determine the status, taxation of new forms of money. Political and legal decisions can reflect the interests and goals of different stakeholders.