alt Hacker NewsPersonal favors do play a role in the private economy, but money is still the dominant currency. Under socialism, the dominant currency is favors. Favors are a form of barter, and barter economies are inefficient. I can explain why if you like.
Personal favors do play a role in the private economy, but money is still the dominant currency. Under socialism, the dominant currency is favors. Favors are a form of barter, and barter economies are inefficient. I can explain why if you like.