Labour voucher

Labour vouchers (also known as labour cheques, labour certificates, and personal credit) are a device proposed to govern demand for goods in some models of socialism, much as money does under capitalism.

Unlike money, vouchers cannot circulate and are not transferable between people. They are also not exchangeable for any means of production hence they are not transmutable into Capital. Once a purchase is made the labour vouchers are either destroyed or must be re-earned through labour. Therefore, with such a system in place, monetary theft would become impossible.

Such a system is proposed by many as a replacement for traditional money while retaining a system of remuneration for work done. It is also a way of ensuring that there is no way to 'make money out of money' as in a capitalist market economy.

Additionally, the only kind of market that could exist in an economy operating through the use of labour vouchers would be an artificial market (arket) for mostly non-productive goods and services; as with the dissolution of money, capital markets could no longer exist and labour markets would also likely cease to exist with the abolition of wage labor which would by necessity occur with the adoption of vouchers.

Author and activist Michael Albert and economist Robin Hahnel have proposed a similar system of remuneration in their economic system of participatory economics (parecon). A difference is that in parecon "credits" are generally awarded based on both the time spent working and the amount of effort and sacrifice spent during labour, rather than simple contribution. Some later advocates of participism and parecon have also proposed awarding more based on job difficulty or danger. Also, in contrast to the physical note or cheque format used for labour vouchers in the past, parecon credits are proposed as being entirely digital in keeping with advances with technology and are stored in electronic accounts and usable through cards similar to current day debit cards.

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Wikipedia