See also:

What is Money

Why Money just gets in the way

Read the above 2 links first.

All I have written on this is definitely not perfect, there are some fallacies of logic and obviously things I would not have thought of. At least it's a starting point for ideas and to get others thoughts on the issue

As with many things in life my prerequisites for eliminating money also come with a couple of of caveats. It also mean the elimination of bartering. Replacing money with bartering doesn't remove the problems of money. Money is just a representation of bartering.

In an initial stage it's going to require a really big re-education of a lot of people's thoughts. Most people cannot even conceive a situation without money and bartaring.

I would imagine, initially a lot of people would want to hord a lot of physical things. But eventually when they realise they don't have to have physical things because they can have those physical things whenever they want, the need to hoard would be dramatically reduce, but perhaps never completely eliminated.

Any new non market system where you don't have money or bartering would not be perfect. But then again neither is our present system. It's probably subjective as to what is a better system.

With our present world societies there is enough food and shelter for every person on this planet. The problem of the world is not an inability produce but an unwillingness to share. Our current monetary system just makes it easier, not to share.

The full details of how a non monetary society would work, I have not ascertained. But this is a rough idea of the mechanism.

Whatever anybody wants they just take. Everything that in present society would still exist other than money and bartering. So if you wanted something you just take it. If you want to work you do. If you don't want to work you don't have to. The market system would not exist. No doubt other things would replace money as a reason for human existence. Money is not the current reason for human existence.

What would happen if everything was free? Video

All arguments about what is good in relation to monetary value will be completely eliminated. Presently individuals, politicians and business people will argue that one side of an argument or another side of an argument is better or worse because a certain financial values. Without any financial value they will be no argument about the economic worth.

With no money there would be no need for banks. All the bad things that are assocated with banks and banking practices would be eliminated

The need to budget or forecast anything on the basis of value will be completely removed. Time will become more important than value.

The only reason that charity exist is because there's some people that do not have the ability, for whatever reason, to be able to take care of themselves. Without bartering or money the situation would not exist. It's only because of money that charity exists

The current concept that competition is good because it drives prices down would be eliminated because without money and barter there would be no prices to be driven down.

It is recognise that competition in the work place can have negative effects on individuals. Without money although the workplace would still exist the level of competition would be not based on financial considerations, such that those bad effects of competition would be reduced dramatically.

Product manufacturing, services, the legal system, health and education, would all be better because the money aspect of competition would be eliminated

Specific examples are products that are currently manufactured are deliberately incompatible with opposition products. Service providers not allowing competitors to use their resources and facilities. Intellectual property laws that restrict the ability to share information. Health products and services that a designed in the long-term to keep people sick. Education systems that currently only teach a limited view on society based on the current market based economy.

Presently some super rich people flaunt ther richness in front of others by conspicuous consumption. That is spending lots of money on outlandish things just to prove they are better off than others. Quite often the net result is they are just wasting precious resources.

Without money their ability to do this would be reduced dramatically and resources would be wasted less

Ther how many situations were worker is created just for the purpose of obtaining money. Some examples are: construction sites where concrete is poured deliberately incorrectly so that it has to be removed and re-poured. Not repairing something correctly knowing it will fail in the future. Deliberately leaving parts off machinery knowing that it will cause it to fail.

Without money or barter there would be no need to create work only for the purpose of money.

Most of crime involving money and possibly possessions would be eliminated. Other than greed ther would be no incentive for people to accumulate anything knowing they could have the items whenever they wanted to. As example see ransomware and,Drugs

Without money it would be impossible to become financially in debt. All the emotional turmoil associated with debt would be completely eliminated, allowing people to live more fulfilling lives.

Even though vaccinations are often free in a lot of countries even the poorest of countries diseases continued because of the lack of money. Eg:

https://www.google.com/amp/s/qz.com/india/328951/why-indias-poor-continue-to-be-ravaged-by-the-worlds-oldest-disease/amp/

Without money or bartering ther could be less need to buy drugs, because people generally could be happier, the need to take drugs would be reduced dramatically. Rather than having to have a drug fix to make them feel better, the used to be drug taker, could replace drugs with anything else, as ther would be no financial reason stopping them for doing so.

A follow-on effect of having less drug usage would be less crime.

See Crime

Without money and bartering there is no economy. So all economic controls are unnecessary.

The present situation where “the economy” cannot be controlled, by governments, central banks and even International Monetary Fund, (IMF) would be eliminated.

The current economic cycles with booms and busts would be eliminated.

According to part of this article “According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin uses more energy than entire countries such as Sweden and Malaysia”, electricity is just being wasted in the pursuit of wealth.

If money didn't exist less energy would be used in the creation of the new type of money, cryptocurrency. The pursuit of wealth is currently just wasting energy

Individually, organisational and national, financial bullying could not exist if money did not exist. Those that currently have money could not use their money as a source of power to bully others.

With out money all food could be free so possibly eliminating starvation.

Ther is enough food in the word for everyone, it's just that not everyone can access it. Money is part at the reason

Without money it would be impossible for any business to go broke, and would so eliminate the problems of businesses becoming insolvent

We live in a society were it is thought that all you need is more money and you will be happy. That is a complete fallacy because many studies by scientific people and psychologists have shown that having more of anything does not make you more happy. See:

https://www.google.com/amp/s/amp.theguardian.com/commentisfree/2013/dec/09/materialism-system-eats-us-from-inside-out

Happiness is a state of mind. It does not require anything physical. However because of the education system and the mass media that is not what is taught or portrayed.

Money and bartering are also only a state of mind. Physical or even digital money is only a representation of that state of mind. Eliminating money and bartering can eliminate the excuse that money is needed to make people happy

Without money there would be less ability to accumulate Wealth, hence less inequality.

Inequality makes both those that don't have wealth those that do have wealth feel resentful, which leads to all sorts of mental and social problems. The reduction of financial resentfulness would eliminate most of these problems

Inflation, the reduction in the purchasing power of money over time, only exist because money exist. Without money inflation cannot exist. The problems associated with inflation would no longer exist.

The supposed reason for the existence of intellectual property laws is to provide the origional creators of works, reward for ther efforts. The reality is that more often, it is this others that that receive financial rewards.

Without money and bartering the current completely artificial restrictions on sharing intellect would be eliminated. This could mean some current other social problems could be eliminated. Eg. Deseases that can be cured by drugs, but the cost of those drugs make them beyond the reach of those that need them, because the patient laws provide a restricted supply.

Legal dispute that involved money either directly or indirectly would be eliminated. It would be impossible to sue for financial compensation.

It would also mean that the present situation where the majority of the time, those that have the most money end up winning legal dispute, would no longer exist. The wealthy would no longer have that control.

It's slightly ironic that one of the reasons that money exists is because of laws.

Without money and bartaring prices would not exist. So the whole concept of inflation or depression or economic up and down turns would also not exist. More importantly mental health problems would be reduced dramatically because people would not have any money worries. Is possible the majority of people would be happier.

The need to put price on anything would be completely removed. The currently need to put as a price on supermarket shelves or large contracts would be eliminated. The process of where work to be performed has to be priced or estimated would be eliminated.

Without money and bartering ther would be no way to make a profit. Therefore all the downsides of the profit motive would be completely eliminated. An example would be work but most likely every other item on this list, are also examples.

As this article shows money is not needed to prove property posession.

Not completely eliminated but dramatically reduced. Most people are miserable because they can't do what they want to do. With no restrictions on what they can take because of elimination of money and bartering, a lot of human misery will be completely eliminated.

The deliberate task of creating misunderstandings for the purpose of confusion, in advertising, Law and Business would be dramatically reduced because there would be no benefit in doing so.

All current political systems are controlled or heavily influenced by money or bartering such that relatively few people control a much larger group of people. Without money or bartering this is less likely to happen.

Presently marketers manufacturer a multitude of items at different quality levels to create different price levels to maximize profit. Without money and therefore a profit motive, ther will be no need to make the less expensive items. All other things being equal, all items will be the best quality, and so would last longer. Therefore dramatically reducing waste and so preserving resources.

Without money it would be impossible for any sort of ransom to exist, because there would be no benefit to the orchestrater of it. It would also stop the flow on effect like in this situation

Modern day slavery would be eliminated because there would be no incentive for the owners of the slaves. Also no ability to buy, sell or batter slaves.

With the disconnect of time and money, more time can be allocated to tasks that would not otherwise be done correctly, fully, efficiently or morally becausee of money

Everybody could use the terminology “money is not a problem”

Presently those that market goods and services do so by adding extra things which are supposedly of value but in actual fact have no value to the final consumption of the items or services A classic case is packaging. An extreme case of over adding value is perfume packaging. Marketers know that consumers will buy the perfume based on the container and packaging that surrounds it. The packaging makes no difference to the smell of the perfume.

A variation on the theme of value adding are internet service providers that provide a certain quantity of data at various price breaks knowing at the average consumer will not use that data. It is a service value that may not be able to be utilised by the consumer.

Without money and markets there would be no need for the waste associated with value adding.

Presently many things are produced, manufactured, created and sold simply because of the profit motive. The profit motive only exists because of the ability to be able to create wealth.

Most likely because of advertising and the mass media, many people are under the impression that they will feel better if they have more of anything. Only to find out when they have more, that it doesn't make their long term feelings change. Possibly it's the expectation of knowing that they are going to have something more that makes them feel better, not the item self. Knowing that they can have whatever they want whenever they want, may give them a feeling of euphoria.

Hence what is currently being produced and consumed for no long-term benefit would be dramatically reduced, so a reduction in waste.

Of the items that would still be produced the quality of them will increase. See quality

Money is a store of wealth. Without money the ability to store wealth would be dramatically reduced but would not be entirely eliminated. Those that are presently wealthy would no doubt find some way of trying to protect their wealth. But without money that would make it increasingly difficult for them to do so.

Without the ability to accumulate wealth there would be less inequality

See Inequality

In theory no one would ever have to work again, with all the associated benefits of that. Some people may think that with no work, nothing wil ever get done. However when you consider whats already unpaid work, between 33% and 60% of the Australian economy, and the fact that most people get some sort of satisfaction at doing some work, the pay aspect of work, in respect of money, becomes irrelevant.

Contry to popular belief the money aspect of working is not a particularly large motivating force. People work for more reasons than just money. It could be social interaction, feeling of achievement, feeling of belonging, sense of pride or a multitude of other reasons.

But without the money aspect of working it opens up a whole new realm of other social benefits that may not be obvious.

Currently there is only a limited amount of paid jobs. So jobs are regarded as being reasonably scarce. Therefore some people will work in jobs that they have no interest in whatsoever and are completely disillusioned with their job. Without money that would not happen. Then there are people that are completely happy with their job but strive for something better in their life,but are not able to do it because of the restrictions of money. Without money that restrictions will no longer exist. Then there is what currently is called the working poor. People that have jobs but do not make enough money to have a reasonable standard of living. Without money ther standard of living would not be relient on how much they work.

Because of the profit motive those that are self employed or a managers of corporations are always trying to minimise cost and maximise revenue. Without money there would be no way of doing that. Therefore work would become more ultrastick. The satisfaction in work would not be measured in terms of money. All other things being equal all goods and services would provide greater satisfaction for those consuming them.

See also quality

Only best quality

Environmentally friendly

Internet no correlation between what your pay and watch you get

Supply n demand not exist

Eliminate the need for taxation

Eliminate need to understand money

Remove need to manage money

Remove need to worry about money

Quality of physical items removed from money aspect

Provided worldwide no need for money exchange

Closer to the natural world

Fraud dramatically reduced

Crime involving money eliminated

No price no market economy, all the disadvantages associated with it

World trade

Climate change

Support developing countries

Freedom

Asylum seekers

Financial Targets elimination

Safety

politics?

Businesses could not go broke

INEQUITY ELIMINATION see also https://www.abc.net.au/news/2021-06-25/australia-talks-youth-mental-health-analysis/100223316

Advantage vs disadvantaged Most vulnerable vs least vulnerable

No economic roller coasters

Complete financial system eliminated

Selling and buying eliminated

Gig economy eliminated

Speculation eliminated

Businesses can't go broke

Those that have money spent it because I can and not being wasteful

Money spent purely to create wealth with no other benefits, other than the creation of wealth. Often environmental vandalism