Petty capitalism, perfecting capitalism or post-capitalism? Lessons from the Argentinean barter experiments

Abstract

The last decade has witnessed a remarkable growth of non-state, not-for-profit monetary systems known as community currencies. The Red del Trueque, or'Barter Network', in Argentina is the first of such systems to grow to a size which encroaches on the state monopoly over the money supply. This article begins with a basic primer on the functioning of the network and offers an explanation for its unprecedented growth in the Argentinean context. The central question addressed is whether the network can be described as petty capitalism, perfecting capitalism or post-capitalism. A socialized theory of economic relations is developed which argues for the existence of a reciprocal relationship between the behavioural norms governing monetary networks and the practices of those networks. Analysis suggests that the RT contains tendencies both supportive of and alternative to capitalist modes of organization, consistent with the history of Utopian experiments. To succeed in its goal of creating an'economy of solidarity', the Barter Network must develop a political alternative to accompany its heterodox economic organization.

Keywords:

• Community currency
• social economy
• social inclusion
• LETS
• private money
• currency competition
• alternative economy