|
Cincinnati Time Store
The Cincinnati Time Store (1827-1830) was the first in a series of retail stores created by American individualist anarchist Josiah Warren to test his economic labor theory of value. The experimental store operated from May 18, 1827 until May 1830. He sold things at-cost plus a small markup for his time. It is usually considered to be the first time alternative currency labor notes were used, and as such the first experiment in what would later be called '' mutualism''. He also founded stores in New Harmony, Indiana and at Modern Times, Long Island. The store in Cincinnati closed in 1830 with Warren being satisfied he demonstrated running and managing a business without the "erection of any power over the individual". His theory replacing money with time was turned into an actual practical demonstration project. It was the first such activity, preceding similar labor notes in Europe by more than 20 years, and still has implications for other concepts of currency such as crypt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercantile
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct exchange of goods and services for other goods and services, i.e. trading things without the use of money. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and letter of credit, paper money, and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade involving more than two traders is called multilateral trade. In one modern view, trade exists due to specialization and the division of labour, a predominant form of economic activity in which individuals and groups concentrate on a small aspect of production, but use their output in trades for other products a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scrip
A scrip (or ''chit'' in India) is any substitute for legal tender. It is often a form of credit. Scrips have been created and used for a variety of reasons, including exploitive payment of employees under truck systems; or for use in local commerce at times when regular currency was unavailable, for example in remote coal towns, military bases, ships on long voyages, or occupied countries in wartime. Besides company scrip, other forms of scrip include land scrip, vouchers, token coins such as subway tokens, IOUs, arcade tokens and tickets, and points on some credit cards. Scrips have gained historical importance and become a subject of study in numismatics and exonumia due to their wide variety and recurring use. Scrip behaves similarly to a currency, and as such can be used to study monetary economics. History A variety of forms of scrip were used at various times in the 19th and 20th centuries. Company scrip Company scrip was a credit against the accrued wages of employ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Truck System
Truck wages are wages paid not in conventional money but instead in the form of payment in kind (i.e. commodities, including goods and/or services); credit with retailers; or a money substitute, such as scrip, chits, vouchers or tokens. Truck wages are a characteristic of a truck system. "Truck", in this context, is a relatively archaic English word meaning "exchange" or "barter". Truck system A truck system includes one or both of the following practices under which truck wages are used to defraud and/or exploit workers. * Firstly, the truck wages are demonstrably of a lesser market value than the amount of money that would normally be paid for the same work. * Secondly, truck systems limit employees' ability to choose how to spend their earnings. For example, credit or company scrip might be usable only for the purchase of goods at a monopolistic company-owned store, at which prices are set artificially high. As long as the company store is the only party able and will ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Truck Acts
Truck Acts is the name given to legislation that outlaws truck systems, which are also known as "company store" systems, commonly leading to debt bondage. In England and Wales such laws date back to the 15th century. History The modern successor of the Truck Acts is found in the Employment Rights Act 1996 sections 13–27. This replaced and updated the Wages Act 1986 which had itself repealed the Truck Acts. A case called '' Bristow v City Petroleum'' was the last case to be decided under the old legislation and in it, Lord Ackner in the House of Lords gave a short history of the previous regime. British legislation In Great Britain and (after 1801) the United Kingdom, a series of Acts of Parliament have been enacted to make truck systems unlawful: *The Truck Act 1725 *The Truck Act 1831 (1 & 2 Will 4 c 37) *The Truck Amendment Act 1887 (50 & 51 Vict c 46) *The Truck Act 1896 (59 & 60 Vict c 44) *The Truck Act 1940 (3 & 4 Geo 6 c 38) The Truck Acts 1831 to 1896 means th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial News
''Financial News'' is a financial newspaper and news website published in London. It is a weekly newspaper, published by eFinancial News Limited, covering the financial services sector through news, views and extensive people coverage. ''Financial News'' was founded in 1996. Financial News is owned by Dow Jones & Company, who acquired eFinancial News in 2007. It is part of the Dow Jones Media Group division, which also includes ''Barron's'', ''Factiva,'' ''MarketWatch'' and ''Mansion Global''. Financial News launched a revamped, mobile-first website and new weekly print edition in January 2017. Titles In addition to the publication of the Financial News, the company also operates ''FNLondon.com'', an updated daily website version of ''Financial News'', and ''The Private Equity News'', which provides daily news and analysis for Europe's private equity industry. ''The Private Equity News'' website is the counterpart to the weekly Private Equity News hard copy and was launched ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Equitable Labour Exchange
In economics, a time-based currency is an alternative currency or exchange system where the unit of account is the person-hour or some other time unit. Some time-based currencies value everyone's contributions equally: one hour equals one service credit. In these systems, one person volunteers to work for an hour for another person; thus, they are credited with one hour, which they can redeem for an hour of service from another volunteer. Others use time units that might be fractions of an hour (e.g. minutes, ten minutes – 6 units/hour, or 15 minutes – 4 units/hour). While most time-based exchange systems are service exchanges in that most exchange involves the provision of services that can be measured in a time unit, it is also possible to exchange goods by 'pricing' them in terms of the average national hourly wage rate (e.g. if the average hourly rate is $20/hour, then a commodity valued at $20 in the national currency would be equivalent to 1 hour). History 19th century ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Library Of Congress
The Library of Congress (LOC) is the research library that officially serves the United States Congress and is the ''de facto'' national library of the United States. It is the oldest federal cultural institution in the country. The library is housed in three buildings on Capitol Hill in Washington, D.C.; it also maintains a conservation center in Culpeper, Virginia. The library's functions are overseen by the Librarian of Congress, and its buildings are maintained by the Architect of the Capitol. The Library of Congress is one of the largest libraries in the world. Its "collections are universal, not limited by subject, format, or national boundary, and include research materials from all parts of the world and in more than 470 languages." Congress moved to Washington, D.C., in 1800 after holding sessions for eleven years in the temporary national capitals in New York City and Philadelphia. In both cities, members of the U.S. Congress had access to the sizable collection ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Avrich
Paul Avrich (August 4, 1931 – February 16, 2006) was a historian of the 19th and early 20th century anarchist movement in Russia and the United States. He taught at Queens College, City University of New York, for his entire career, from 1961 to his retirement as distinguished professor of history in 1999. He wrote ten books, mostly about anarchism, including topics such as the 1886 Haymarket Riot, 1921 Sacco and Vanzetti case, 1921 Kronstadt naval base rebellion, and an oral history of the movement. As an ally of the movement's major figures, he sought to challenge the portrayal of anarchists as amoral and violent, and collected papers from these figures that he donated as a 20,000-item collection to the Library of Congress. Early and personal life Paul Avrich was born August 4, 1931, in Brooklyn to parents of Jewish and Ukrainian heritage from Odessa. His parents, Rose (née Zapol) Avrich and Murray Avrich, were a Yiddish theater actress and a dress manufacturer, respect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Owen
Robert Owen (; 14 May 1771 – 17 November 1858) was a Welsh textile manufacturer, philanthropist and social reformer, and a founder of utopian socialism and the cooperative movement. He strove to improve factory working conditions, promoted experimental socialistic communities, and sought a more collective approach to child rearing, including government control of education. He gained wealth in the early 1800s from a textile mill at New Lanark, Scotland. Having trained as a draper in Stamford, Lincolnshire he worked in London before relocating aged 18 to Manchester and textile manufacturing. In 1824, he moved to America and put most of his fortune in an experimental socialistic community at New Harmony, Indiana, as a preliminary for his Utopian society. It lasted about two years. Other Owenite communities also failed, and in 1828 Owen returned to London, where he continued to champion the working class, lead in developing cooperatives and the trade union movement, and support c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utopia (anarchist Community)
Utopia is an unincorporated community in far southern Franklin Township, Clermont County, Ohio, United States, along the banks of the Ohio River. Utopia has been referred to as a "ghost town" although there are still people who live there. History First settlement Utopia was founded in 1844 by the followers of Charles Fourier, after the failure of an earlier Fourierist phalanstère called the Clermont Phalanx. Fourier's writings inspired his readers to create their own utopian society—hence the name "Utopia." Within three years, the community broke up. It was soon reorganized by Josiah Warren, who founded the town as a means of a small cooperative community that could still carry out functions like the outside world. For instance, the town existed with a market socialist economy based on Warren's version of the labor theory of value. .Bailie, William. Josiah Warren', 1906. Accessed 2007-10-12 from the Pitzer College website's Anarchy Archives, created 2000-02-17. First ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fungible Goods
In economics, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable, and each of whose parts is indistinguishable from any other part. Fungible tokens can be exchanged or replaced; for example, a $100 note can easily be exchanged for twenty $5 bills. In contrast, non-fungible tokens cannot be exchanged in the same manner. For example, gold is fungible because its value doesn’t depend on any specific form, whether of coins, ingots, or other states. However, a unique item such as a gold statue by a famous artist would not be considered fungible. In short, a thing is fungible when all equivalent amounts of that thing are interchangeable. Fungible commodities include sweet crude oil, company shares, bonds, other precious metals, and currencies. Fungibility refers only to the equivalence and indistinguishability of each unit of a commodity with other units of the same commodity, and not to the exchange of one commodity for a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
.jpg "Click for more on -> Scrip")
.jpg "Click for more on -> National Equitable Labour Exchange")
.jpg "Click for more on -> Robert Owen")