Path toward socialism
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The blood of the capitalist economy is the working class, without the working class the capitalist class will never be able to produce profits and continue their system operating. Money is not the only problem of the capitalist economy, it is the whole system the real problem. That is an idea that is moving around the USA and it is coming from one sector of the capitalist class which is also producing money for themselves, It is just another idea to cheat the workers, and distract them from the real issues. Money is used by the capitalists in order to transact between them and to buy the labor force of the working class
Alan,
I am curious what would you like to use as basis for Cost Analysis, other than money? There is a view that in a society of scarcity, as Capitalism is, costs management is essential, hence the Cost Analysis tools are important. But in a society of abundance, as socialism is expected to be, there will be much less need for cost analysis as we know it now. Some checks to prevent abuses will be needed but not the penny pinching we see today.
My belief that money, at some point, come to limit economic activity derives from two of the functions money perform: medium of exchange and storage of value. You need money to circulate for the economic activity to happen. When some participants in the economy hoard money and do not put them back in circulation, the economy suffers. The Great Depression and the Great Recession where liquidity crises solved by pouring money into the system. At a personal level, there were many people lacking funds for life necessities. They were willing to work, to earn the needed funds, but nobody would hire them because there was no money available.
All the best,
Radu
When applying cost benefit analysis, there is not necessity to evaluate using actual money. It is only a method of determining the strengths and weakness of various alternatives in some sort of systematic way. I am no expert but I am confident those accustomed to the use of the principle can adapt it as they already do to fit differing circumstances.
Taken from wiki
https://en.wikipedia.org/wiki/Cost–benefit_analysis
Probably more appropriate is Cost-Effectiveness Analysis which is distinct from cost–benefit analysis, since it assigns no monetary value to the measure of effect.
https://en.wikipedia.org/wiki/Cost-effectiveness_analysis
Why is it necessary to convert it into monetary terms except under capitalism. Socialism can just as easy use the method by only attaching a points system. Or use another measurement.
“using the related technique of cost-utility analysis, in which benefits are expressed in non-monetary units such as quality-adjusted life years.” Frequently used by pharmaceutical corporations
https://en.wikipedia.org/wiki/Cost–utility_analysis
Economists no in this planet. The theory of scarcity
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