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He proposes a moneyless socialist economy, akin to Karl Marx's description of a socialist society in Critique of the Gotha Programme, realized by today's computer technology:
In our proposal people would be paid not in money but with nontransferable electronic work accounts. Purchases would be made with smart cards as they are today, but with the difference that the only way people could accumulate work credits would be by actually working. The more hours you work the more credits you get. Goods in the shops would then be priced in hours, and the exchange principle is basically one for one. For one hour of work you get goods that took one hour to make.
^ abcCottrell, Allin; Cockshott, W. Paul (1993). Towards a new socialism. Nottingham, England: Spokesman. Retrieved 17 March 2012.
^Cockshott, Paul (2020). How the World Works: The Story of Human Labor from Prehistory to the Modern Day. Monthly Review Press. p. 316. ISBN978-1-58367-777-3.
^Cottrell, Allin; Cockshott, W. Paul (1 July 1993). "Calculation, Complexity And Planning: The Socialist Calculation Debate Once Again". Review of Political Economy. 5 (1): 73–112. doi:10.1080/09538259300000005.