Guest guest Posted January 5, 1999 Report Share Posted January 5, 1999 On 05 Jan 1999, Madhava Gosh wrote: > Alternative currencies do have another require - that those participating are > producing goods and services that can be used by other participants. There is yet another requirement: that these goods and services must be properly valued. In particular, value-adding enterprises should be able to be recognized as value-adders, while value-subtracting enterprises don't have the opportunity to pass as such. Otherwise, there is every danger of turning into a "virtual economy" like the one currently operating in Russia. In this scheme, value-subtracting companies use barter to make themselves look productive when they are actually incredible wastes of money and goods. There's an interesting article about this at http://www.foreignaffairs.org/issues/9809/gaddy.html . -- Vijay Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 5, 1999 Report Share Posted January 5, 1999 On 05 Jan 1999, Madhava Gosh wrote: > Alternative currencies do have another require - that those participating are > producing goods and services that can be used by other participants. There is yet another requirement: that these goods and services must be properly valued. In particular, value-adding enterprises should be able to be recognized as value-adders, while value-subtracting enterprises don't have the opportunity to pass as such. Otherwise, there is every danger of turning into a "virtual economy" like the one currently operating in Russia. In this scheme, value-subtracting companies use barter to make themselves look productive when they are actually incredible wastes of money and goods. There's an interesting article about this at http://www.foreignaffairs.org/issues/9809/gaddy.html . -- Vijay Quote Link to comment Share on other sites More sharing options...
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