Socialism, Markets, and the Critique of Money: The Theory of Labor Notes [Paperback]

This book provides a comprehensive overview of historical and international debates on the theory of labor money or labor notes. These debates exist in a triangular context of market socialism, communism (community-based socialism), and local currency, joining numerous socialists, anarchists, and Marx and Engels. Labor note theory encompasses theoretical, ideological, and practical doctrines aimed at designing a fair and desirable labor-based market or non-market economy by reforming the monetary and credit system. This theory was considered an unfeasible utopian idea in the context of orthodox Marxism, which is typically based on a historical study of surplus value doctrines. However, this book eschews Marxs critique of labor money that limits the debate regarding a concrete alternative society, and instead proposes practical and gradual approaches to social reform by scrutinizing the primary sources of labor money theories and practical experiences and reconstructs their theoretical relationships.

Chapter 1. Issues, Methods, and Scopes.- Chapter 2. Free Credit versus Value from Theory: On The Relation Between Proudhon's Market Socialism and Marx's Market Realism.- Chapter 3. Theoretical Connotations of Marx's Critique of the Theory of Labor Money: On Socialism and Local Currencies.- Chapter 4. Labor Note Theories of Robert Owen and Josiah Warren.- Chapter 5. William Pare's Theory of Labor Notes: From an Analysis of Monetary Functions to a Vision of Markets.- Chapter 6. Comparative Study of Owen's Theory of Labor Notes and the Theories of Local Currency.- Chapter 7. John Gray's Theory of Labor Notes and it's Relevance to Money and Labor.- Chapter 8. Reconsideration of Gesell's Critique of Marx's Theory of Capital.- Chapter 9. Concluding Reflections on Money and the Market: Possible Lines of Development for Labor Notes Theory. 

Tsuyoshi Yuki is Professor in the Gradual