Discussion about this post

User's avatar
Zoe Gilbertson's avatar

Although I agree with all of this, I think building commons can be a form of activism. I think quite a few ‘activists’ (ie founders of XR etc) are starting to realise this. It would be great to direct the energy and fire of activism towards more practical matters.

Howard Switzer's avatar

I think you're right about the mechanism and wrong about the conclusion. The system has to keep increasing the number of $ signs on the basis of debt, that's exactly the diagnosis. But you can't starve it out from the commons, because the money system is itself a commons, and it's been enclosed.

Money is infrastructure. It's the unit of account for rents, taxes, wages, contracts, and court judgments. You can reduce your dependence at the margins, and commons do exactly that, which is valuable, but you cannot escape the unit of account while the rules that govern it remain in private hands. The Amish have lived in mutual aid, no-debt communities for centuries. They haven't starved finance capitalism; they've lived alongside it. That's not nothing, but it isn't the ending you're describing.

Which means the question isn't "build commons or do activism." It's what the activism is for. If it's for getting the state to fix things within the current money system, I think you're right that it's largely wasted effort. If it's for re-commoning the money system itself, making money a public utility, a public ledger, a public measure of value instead of a private debt instrument, then it isn't activism against the system. It's commons-building at the root.

The money commons was enclosed in 1694, in 1913, in 1971, and it's being enclosed again right now through tokenization and the UCC amendments. That enclosure is what forces every other commons to operate on debt-based terms. It's why your commons have to borrow to build, and why the interest on that borrowing is the thing that eventually eats them. Build all the commons you want; if the money they use is created as interest-bearing debt by private banks, they'll still be swimming in the same water.

So: yes to building the commons. And yes to the fight you say is a waste of time, because it isn't a fight, it's the same project. The commons needs a money commons. You can't starve the debt system without changing the rules that make debt the only game in town.

33 more comments...

No posts

Ready for more?