A 1993 publication titled Towards a New Socialism introduced a framework for an electronic, moneyless economy predicated on computer-driven planning. Co-authored by Paul Cockshott and Allin F. Cottrell, the text proposed replacing currency with nontransferable work credits, where the exchange value of goods is determined strictly by the hours required for their production.
Academic and Technical Background
Born in Edinburgh in 1952, William Paul Cockshott pursued an extensive academic trajectory in both computer science and economics. He earned a BA in economics from Manchester University in 1974, followed by an MSc in computer science from Heriot Watt University in 1976. He later completed his PhD in computer science at the University of Edinburgh in 1982. Throughout his professional tenure, primarily as a Reader at the University of Glasgow, he has contributed to advancements in medical imaging, parallel compilers, 3D television, and image compression.
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Cockshott challenges the economic calculation problem by asserting that modern computerization facilitates efficient, democratic central planning. His economic model draws from Karl Marx's descriptions found in the Critique of the Gotha Programme. Under his proposal, individuals use smart cards to purchase goods priced in labor hours, ensuring that the accumulation of credit remains strictly tied to recorded working time.
Political Engagement
During the 1970s, Cockshott held membership in the British and Irish Communist Organisation. He eventually left the group over disagreements regarding the nature of workplace power and the role of the proletariat. Subsequently, he assisted in forming the Communist Organisation in the British Isles, which remained active until 1980. His later political output focuses on technologist socialist planning and the feasibility of large-scale economic transition within the European Union.
Publication History
Cockshott has authored or co-authored numerous technical manuals and political treatises. His bibliography includes titles such as Ps-Algol Implementations, A Compiler Writer's Toolbox, and the SIMD Programming Manual for Linux and Windows. His more recent works explore the intersection of labor history, classical econophysics, and philosophical materialism, as seen in his 2019 book How the World Works and his 2024 collaborative text Defending Materialism.
Fast facts
- Born: 1952, Edinburgh
- Nationality: United Kingdom
- Academic Degree: PhD, University of Edinburgh
- Employer: University of Glasgow
- Field: Computer science
- Notable work: Towards a New Socialism (1993)
Questions readers ask
What is the core proposal of Cockshott's economic model?
He advocates for a moneyless system where goods are priced by labor time and citizens are paid via nontransferable electronic work accounts.
What technical fields has he contributed to?
His professional research includes medical imaging, parallel compilers, 3D television, and image compression.
Achievements
- Affiliated with University of Glasgow
- Educated at University of Edinburgh
- Worked as computer scientist, political economist and university teacher
