Submitted by celebratedrecluse
on March 26, 2021 at 4:24 AM in lobby
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Reply to comment by whipskid in Good morning! by celebratedrecluse
I think an anarchist territory would object to being referred to as a "country" on principle and would likely be known as a collective, syndicate, or federation depending on size.
If I were part of an anarchist territory, I would prefer that common currency be abolished or used exclusively for the purchase of luxury goods. Otherwise it would probably be very difficult to eliminate poverty. In terms of foreign trade it would mostly be conducted as an organized exchange/barter of goods of commensurate value, or precious metals could be used if a precise measure of liquid assets were necessary.
The federation would need to export at least some goods of high value in order to avoid any potential trade deficits (dangerous) so there would have to be specialized labor unions within the federation responsible for producing said goods. This would likely include luxury goods (produced mainly for local consumption in order to improve quality of life, with surpluses being exported) and weapons (produced mainly for local defense and protection from external reactionary forces, with surpluses being exported).