. . . but this treatise is missing one very significant element of the debate, never mentioned therein: Socialism cannot exist, and exploitation of the poor by any economic system cannot exist, if the only lawful monetary system is species (money) of intrinsic value. All it takes is a law that says debt of a given amount is resolved by payment of wealth of that given amount. The poor cannot be oppressed if all they have to do to stop being poor and oppressed is to do work of productive value to someone – anyone, including society at large. When money is of intrinsic value, work is rewarded with wealth, not debt – everyone wants it and is willing to work for it, and everyone who needs work done is willing to pay for it. The result is a roaring economy in which poverty can only exist when it is preferred.
At twenty pages this PDF is a hefty read, but it’s worth every minute.