Fundamental Principles of Communist Production and Distribution
by Gavin Mendel-Gleason  :
"This is a rather old, but still interesting exploration of non-circulating labour notes. The most important contribution of this piece is in describing how a system which mixes production for general public consumption with one using labour time can be implemented in a distributed fashion. The introduction presents a thesis which has had multiple proponents but which I sometimes refer to as the Djilas thesis (as it is presented by him in his book, the New Class). The idea is that the change in the mode of production has to proceed the political revolution. Further, the blame for the failure of state communisms to attain a satisfactory conclusion to the problem of economics is deemed to be related to their incorrect understanding of Marx, who was attempting to promote non-circulating labour notes in something which would otherwise look fairly similar to mutualism.
I remain unconvinced that the proposal squares the circle with respect to production for general use-value in a non-centralised way, though I’d be curious whether others think this is a failure on my part or whether they also found it problematic.
On the other hand I’m very interested in taking this proposal and marrying it with some of the ideas from Schweikert’s proposal to deal with public expenditure and some attention should be paid to assessment of externalities. In addition, there is a big opening for making use of modern cryptographic democracy techniques to rework the GIK proposal into a transparent and open labour time payment system. I’ll go into more details on this idea later."