Ludwig von Mises Institute

Resource-based economics

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Resource based economics or resource-based economy (RBE) is a proposed system in which all goods and services are available without the use of money, credits, barter or any system of debt or servitude. The setup has been advocated largely by a group called The Venus Project, and promoted in the Zeitgeist film series.

Under a resource-based economy, all resources are said to be the common heritage of all of the inhabitants. The premise upon which the system is based is that the Earth is abundant with plentiful resources, and that the practice of rationing resources through monetary methods is irrelevant and counter productive to human survival. Proponents claim that under this system, money is replaced by gratitude, trading is replaced by sharing, and ownership is replaced by usership in a way that everyone's needs are met.[1]

The Austrian/free-market (as well as mainstream) criticism of resource-based economics is largely rooted in the underlying reasons money developed. The famous tragedy of the commons offers reasoning as to why resources held "in common" end up being wholly depleted, and illustrates an argument for the need for property rights. Opponents of RBE point out that despite the advances in technology throughout history, scarcity still exists, and will always exist...thereby necessitating a system of property rights, as well as a means to transact for goods and services one desires.

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