During the last hundred years many forms of moneyless economy (MLE) have been proposed. However, no government has ever tried to implement any such systems. Some small communities all over the world have implemented and still practicing such systems in some form (Shiwa, 2007).

In 1919 two influential socialists, Otto Neurath and Otto Bauer, had each published books advocating a moneyless economy (Steele, 2002). In the early years of Soviet power there was serious discussion amongst the party elite about instituting a moneyless economy (Nelson, 2001). Nobel Laureate (1974) in economics, Friedrich Hayek, discussed about possibility of moneyless economy while searching for alternative to mainstream modern economics (Horwitz, 2004). A moneyless world with neither a common medium of exchange nor a common unit of account is discussed in the book by Cowen and Kroszner (Malte, 2008). Nobel Laureate Milton Friedman has suggested replacing the central bank (Friedman, 2006).

The present environment is ready to be replaced by the MLE, which is exactly in tune with the laws of nature, and also gives whatever we want.



Friedman, M. (2013), “Abolish the Fed”, https://www.youtube.com/watch?v=m6fkdagNrjI  January 9, 2013.

Horwitz, S. (2004), “Friedrich Hayek:  Austrian Economist”, J. of the history of economic thought, spring.

Malte, K. (2008), “Money: A market microstructure approach”, MPRA paper No. 18416.

Nelson, A. (2001), “The poverty of money: Marxian insights for ecological economist”, Ecological economics, 36, pp. 499-511.

Shiwa, S. (2007), “More than 300 million people are benefiting from moneyless markets”, Tides of India, Bombay, India, Monday, January 29.

Steele, D.R. (2002), “Posing the problem: The impossibility of economic calculation under socialism”, ec.pdf, www.libertarianalliance.org.uk