In 1989 I wrote the following short essay and sent it to, I think, the Oakland (CA) Tribune.
A CRASH COURSE IN SPECULATION
The crash of '87 demonstrated at least one fact: money has no value. In a breath of
history a trillion dollars disappeared, and nothing changed.
Some say the crash is back, and some say it's a matter of time. Some fear a crash will
lead to panic, and some that panic will lead to a crash. In truth there isn't
even fear to be feared.
But if the crash comes, or even if there's a panic, I have a solution: give money
its real value, nothing. Have nothing to do with money. Accept no wages and pay
no bills. Neither give nor receive money, for it has no value.
I am not urging a cashless, credit-based economy, for credit, based on money, is
as worthless as cash. Nor am I arguing that money is the root of all evil, because
evil is, like money, in reality, nothing. I am, however, suggesting that if our
society is looked at closely and with hope in mind and heart it just might be
observable that the elimination of money need not have a downside; i.e., it does
nothing. And the ideal time for such a shift in perception to occur is when money
can seem to be all important, at the point of greatest financial crash and panic.
I am not the first philosopher to note money's illusory nature, nor to propose its
elimination. In earlier times, however, money appeared to make more sense, society
seemed to need it, and those who had accumulated lots of it were somehow successful
in convincing those who had less that they were poorer, less secure, and should
do what those with the lots wanted in order to get more. Now there is computerization,
robotization and instant communication. Now money can go and not be missed.
It can still be collected, because collectors will, if they wish, continue to collect.
Car makers can make cars, builders can build, truck drivers can drive, and farmers
can farm, because that's what they do. Police can still bring law and order and
PG & E can still provide power. Even the government can still govern. Mark
and Jose can bash baseballs and each other and Rickey can still steal bases. [1]
On the other hand thieves might not want to steal if there isn't any money in it.
The war on poverty can be declared won as everyone's real wealth will become obvious.
The war on drugs would go the same way as there would be no one to sell to or
buy from. Who would backhaul deadly chemicals in food containers if the illusion
of economic advantage was removed? Traffic problems disappear and environmental
issues can be resolved. The homeless can have the banks, brokerages and insurance
companies; in fact the whole financial district. Brokers, bankers, investors and
insurance agents can do whatever they want. No more deficit, no more taxes, no
more stock market, no more crashes.
I am not advocating anarchy, but believe it can easily be avoided if, when the urge
to panic arises, we do nothing; including and especially doing nothing with money.
Nor am I promoting any political idea akin to communism. The communists have not
shown the courage or risibility needed to relinquish their rubles. I am suggesting
non-mutual exclusivity as a better idea. Something does not mean something else.
No one need feel threatened by any idea herein. Ownership and occupancy of property
is not an unsolvable problem. Equitable distribution of goods is not necessarily
less easy than the current inequitable system.
It is becoming clear that we are entering the Age of Wisdom, because we can now understand
what it is. No one has ever been able to write on the Face of God that in money
we trust, but someone in his wisdom got it right the other way around.
[1] Mark, Jose and even ancient
bagman Rickey have now retired, but there's always a crop of sluggers and runners
in baseball who can still slug and steal bases, and people in every sport, profession
or calling, who still can still do what they do.
© Gerry Armstrong 1989, 2000, 2002, 2003, 2004