Written: August 1874; Source: Bakunin on Anarchy, translated and edited by Sam Dolgoff, 1971. Bakunin was above all preoccupied with the theory and practice of revolution and wrote very little about how the everyday practical problems of social reconstruction would be handled immediately following a successful revolution. Nevertheless, these problems were intensively discussed in Bakunin’s circle and among the anti-authoritarian sections of the International. In “Ideas on Social Organization”, Guillaume discusses the transition from capitalism to anarchism – a synthesis of “Bakuninist” ideas on how this transition could be effected without the restoration of authoritarian institutions.” Its value li... (From : Marxists.org.)
Proudhon, Pierre Joseph. System of Economical Contradictions: or, the Philosophy of Misery Electronic Text Center, University of Virginia Library 3. -- Application of the law of proportionality of values. Every product is a representative of labor. Every product, therefore, can be exchanged for some other, as universal practice proves. But abolish labor, and you have left only articles of greater or less usefulness, which, being stamped with no economic character, no human seal, are without a common measure, -- that is, are logically unexchangeable. Gold and silver, like other articles of merchandise, are representatives of value; they have, therefore, been able to serve as common measures and mediums of exchange. But the special function which custom has allotted to the precious metals, -- that of serving as a commercial agent, -- is purely conventional, and any other article...