Mormon eschatology is pretty thin but the core beliefs are that the people are of "one heart and one mind" and that "there are no poor among them".
Specifically this mean that Zion can only be built from "within" and not by force of arms and an economic system not based on self interest but on "love thy neighbors as thyself".
Early Mormon's made attempts in Kirtland Ohio and Far West Missiouri which mostly failed due to rampant speculation and broader economic panics. Some of the ideas were adopted in Nauvoo, Illinois and later is small communities in Utah by Brigham Young.
Some of these experiments yielded later economic benefits because it allowed the Mormon's to divorce their economic system somewhat from gold (which was I short supply). While trades with non-Mormons would need to be settled with gold trade between Mormons could be settled with script that could be exchanged for goods at the "bishop's storehouse." Tradesmen and famers would sell items to the storehouse and get back script which they could then use to buy finsished good or services.
This created a currency that was functionally backed by finished goods and commodities and was immune to speculation and banking system panics that were common at the time.
Mormon eschatology is pretty thin but the core beliefs are that the people are of "one heart and one mind" and that "there are no poor among them".
Specifically this mean that Zion can only be built from "within" and not by force of arms and an economic system not based on self interest but on "love thy neighbors as thyself".
Early Mormon's made attempts in Kirtland Ohio and Far West Missiouri which mostly failed due to rampant speculation and broader economic panics. Some of the ideas were adopted in Nauvoo, Illinois and later is small communities in Utah by Brigham Young.
Some of these experiments yielded later economic benefits because it allowed the Mormon's to divorce their economic system somewhat from gold (which was I short supply). While trades with non-Mormons would need to be settled with gold trade between Mormons could be settled with script that could be exchanged for goods at the "bishop's storehouse." Tradesmen and famers would sell items to the storehouse and get back script which they could then use to buy finsished good or services.
This created a currency that was functionally backed by finished goods and commodities and was immune to speculation and banking system panics that were common at the time.