Community Currency Magazine April 2011

8/7/2019 Community Currency Magazine April 2011

1/33


2/33

Contents Credits

Volunteer staff this issue:

Editor:

Production:

Contributors:

A word from the editor


3/33

The Role of Time Banks

in Crisis Response


4/33


5/33

Madison, Wisconsin: Leading

the fight for economic sanity


6/33


7/33

BitCoin: a rube-goldberg

machine for using

electricity


8/33


9/33

European co-op law for

Hungary local vouchers


10/33


11/33

Maia Maia for carbon

emissions reductions!


12/33


13/33

Financial Terrorism:

15 years for Liberty

Dollar founder


14/33


15/33

Is it time

for Time

Banking?Sometimes introducing

accounting to a functioning

voluntary sphere can

actually be counter

productive. If the UK

government is to support

time banking, it must be

sensitive when paying

professionals to work

alongside volunteers, says

Alex Fox on

alexfoxbog.wordpress.com


16/33

Transition economics

In a separate article, Nalini Sivathasan from the East London Times talked to some Time

Bankers about the UK government's plans to build a 'Big Society'...


17/33

The elevator-pitch for

community currenciesby Eric Harris-Braun


18/33


19/33

Transition economics

Analyses of the financial crisis present us with a

false dichotomy, argues Thomas Greco. We need

to look deeper into the systemic issues inherent to

the design of money.

The world's ominous reckoning

The reckoning will be

global because the

money and banking

regime is global -- and

deeply flawed.


20/33


21/33

Stephen de MeulenaereFollowing on from the interview last issue with Bernard

Lieter, we take a big picture look at challenges and

opportunities in the complementary currency movement

1. What are the questions

you would most want to

explore with fellow movers

and shakers in the

complementary currency

movement?

2. What recent developments

in the field do you find most

exciting?

3. And what do you see askey challenges, obstacles or

blind spots which hinder the

movement's success?

"All the different strands of

the movement, like the grass

roots efforts, academics, and

entrepreneurs aren't

communicating effectively

enough. This is reducing the

opportunities for productive

synergies to appear"


22/33

4. Where do you see

untapped resources and

unmet needs within the field

of complementary

currencies? And do you haveany suggestions about how

to bridge them?

5. Besides financial support,

what would help the

acceleration of the monetary

shifts that are needed?

6. What could bring about a

tipping point in the shift from

a monopoly of bank debt

money toward a monetary

ecology? And is the idea of a

tipping point the best way

of thinking about that

change?

7. There are those who feel

we need to organize

ourselves more efficiently

(the way the Right has done

in the United States), and

those who suggest that there

is strength in our natural

diveristy or that networkedsystems organise

themselves. Where do you

stand on this question?

8. A lot of valuable

community-building

initiatives in this movement

are done by dedicated

people, as a labor of love,

but would often highly

benefit from actual financial

support. if you were given

$10,000 to $50,000 to invest

in strengthening the

currency movement, how

would you invest these

funds?

Actionables:

1 explore closer relations with regional and local governments

2. improve interaction between different actors in the movement

3. Trust in diversity, as long as it is healthy

"all the different roles

have to be filled,

academics, innovators,

practitioners and

promoters, financiers,

and broadcasters"


23/33

Exploring theSuperFluid


24/33


25/33


26/33


27/33

International Journal of Community Currency Research 15 (2011) D 61-67 61

Introduction

Oneofthemostinterestingdevelopmentsin

theUKcomplementarycurrencymovement

overthepast4yearshasbeentheemergence

oflocalpapercurrencyschemesinTransition

towns.FollowingTotnesin2007,thetownsof

Lewes,StroudandBrixtoninSouthLondon

haveallsuccessfullylaunchedlocalpounds,

theusageofwhichisrestrictedtoindependent

businessesintheirrespectiveareas.Broadly

speaking,thegoalofthecurrenciesistohelpre-localiseproductionandconsumptionand

buildeconomicresilience,akeytenetofthe

Transitionmovement.Thispapersetsthe

Transitioncurrenciesincontextandreviews

theirprogresssofar.1

The Transition Network

TheTransitionNetworkisaglobalgrassroots

movementofcommunitiesseekingtocreate

greaterlocalresilienceandwell-beinginthefaceofthetwinthreatsofclimatechangeand

peakoil.Transitionthinkingdrawsinspiration

frompermacultureandecologyasthebasisfor

reimagininghowsettlementsandlocaleconomiesmightbeabletoadapttheshocks

thesetwophenomenonwillinevitablycreate

withoutcreatingmajorsocialandeconomic

dislocation.Thenotionofresilienceiskeyto

Transitionthinking,deMinedas:

...thecapacityofasystemtoabsorbdisturbance

andreorganisewhileundergoingchange,soas

tostillretainessentiallythesamefunction,

structure,identityandfeedbacks(Walkeretal,

2004)

Tocreategreaterresilience,Transitionargues

forthere-localisationofmanyaspectsof

productionandconsumption,arguingthat

lossesinnarrowlydeMinedefMicienciesofscale

aremadeupforintermsofreduced

vulnerabilitytoshocksbecauseofgreater

diversity,justasinnature.Transitionalso

involvescollectivelyimaginingadifferentlow-

carbonfuturefortheareaandthecreationof

anenergydescentplan(EDAP).

TheTransitionmovementishighlydecentralisedandnon-hierarchicalinstructure

andculture.Schemesarealmostallnot-for-

proMitandmainlydependentonvolunteer

Building Local Resilience:The Emergence of the UK TransitionCurrenciesJosh Ryan-Collins

new economics foundation

[email protected]

InternationalJournal ofCommunityCurrency

Research

IJCCR

Abstract

ThispaperexaminestheemergenceofanewtypeoflocalcurrencyTransitionCurrencies-in

theUnitedKingdomoverthepast4years.TheTransitionCurrencymodel,sharedbytheinitial

fourschemes,isexplainedandthetheoreticalrootsoftheschemesreviewed.Thepapergoeson

to examine the success and limitations of the currencies and reMlects on potential future

developments andhowthe Transitioncurrenciesmightupscale anddeliveradditional social,

economicandenvironmentalobjectives.

www.ijccr.net
mailto:[email protected]:[email protected]:[email protected]


28/33


labour.Theemphasisisverymuchopenactive

localparticipationandidentity,positivity,

innovation,creativityandcollectiveaction.

Therearecurrentlyaround270active

transitioncommunitiesacrosstheworld,

mainlyinEnglish-speakingcountries.2

Transition Local Currencies

LocalComplementarycurrencieshaveemerged

asinitiativesfromTransitioncommunities

acrossEngland,normallyfromwithin

transitiongroupsbusinessoreconomysub-

groups.Threeofthetransitioncurrenciesare

intownsinmoreruralareas- Totnesand

StroudintheSouthWestofEnglandandLewes

intheSouthEast.Thefourth,theBrixton

Pound,isininner-cityLondon.Allfourofthe

schemespreviouslyhadactiveLocalExchangeTradingSchemes(LETS)inthe1980sor1990s

andinsomecasesthesameindividualswho

runtheLETSschemesareinvolved.Thereare

alsoanumberofnascentTransition

currenciesintheplanningstages,includingin

Bristol,CanterburyandCamden.Theschemes

sharethefollowingbroadgoals:

Toenhancelocaleconomicresiliencethrough

encouragingmorelocalproductionand

consumptionandlimitingtheleakageof

moneyfromthelocaleconomy

supportandprotectlocalindependent

businesses3which:

protectsjobsandlivelihoodsand

maintainsthediversityandidentityof

thelocalarea

Createstrongerconnectionsbetweenlocal

peopleandbusinesses,boostingsocial

capitalandcohesion.

Stimulatethinkinganddiscussionabouthow

moneyworksandhowlocaleconomies

functionandcouldbemademoresustainable

Promotethearea,creatingprideforits

citizens,asenseofindependenceand

attractingtourists

Encouragingaself-helpmodelofexchange

andmutualsupport

Reducecarbonemissionsthroughreducing

thetransportationofproductsformlong

distances.

Thehardcurrencymodeladoptedbyallfour

existingtransitioninitiativesisbroadlysimilar:

Notesbacked1to1againstUKsterling,with

aone-ortwo-yearvalidity

Notesindenominationsof1,5,10(andin

thecaseofBrixton20andLewes21)with

multiplesecurityfeaturesandfeaturing

attractiveandoriginaldesignsreMlectinglocal

celebritiesorplaces

Currencycanbeacceptedonlyby

independent(broadlydeMined)local

businessesin(part-)paymentforanygoods

orservices

Currencyissoldintocirculationvia

selectedparticipatingbusinesses(Stroud

chargesa3%purchasefeewhichisdonated

tolocalcharities)orgivenaschange

CurrencycanbeexchangedbackintoUK

sterlingata1to1rateatselectedexchange

points(Stroudonlyallowsregisteredtraders

toredeemnotesandhasa5%redemption

fee)

Businessesareencouragedtoofferdiscounts

whencustomersusethecurrencytopayfor

goods,butattemptsbyTotnesandLewesto

introduceacompulsorydiscountwere

abandonedduetobusinessdissatisfaction.

EachschemehasawebsiteandleaMletlisting

allparticipatingbusinessesandinformation

astohowtheschemeworks

TheStroudPoundhasmodelleditselfmore

closelyontheChiemgauercomplementary

currencybasedinGermany(Gelleri,2009).It

hasademurragefeatureonthenoterequiring

userstopaya3%feeandhavethenote

stampedeverysixmonthstomaintainitsvalue,

theaimofwhichistofurtherincreasethe

circulationofthenote.TheChiemgauerwas

itselfinspiredbythewritingsofSilvioGesell

andthehighlysuccessfulWorglcurrencythat

helpedrebuildthetownofthesamenamein

Austriainthe1930sduringtheGreat

Depression(Gesell1958).

Stroudalsochargesa5%redemptionfeeand

anannualmembershipfeeforusersand

IJCCRTheUKTran

sitionCurrencies

The emphasis is very muchopen active local participationand identity, positivity,innovation, creativity andcollective action.
http://www.transitionnetwork.org/totnespound/homehttp://www.stroudpound.org.uk/http://www.thelewespound.org/http://www.brixtonpound.org/http://www.brixtonpound.org/http://www.chiemgauer.info/http://www.chiemgauer.info/http://www.chiemgauer.info/http://www.brixtonpound.org/http://www.brixtonpound.org/http://www.brixtonpound.org/http://www.brixtonpound.org/http://www.thelewespound.org/http://www.thelewespound.org/http://www.stroudpound.org.uk/http://www.stroudpound.org.uk/http://www.transitionnetwork.org/totnespound/homehttp://www.transitionnetwork.org/totnespound/home


29/33


businesseswhojointheStroudPound

cooperative,apercentageofwhichisdonated

toalocalcharityoftheconsumerschoice.

Noneoftheotherthreecurrenciesoperatefee

basedmembershipschemes.BothBrixtonand

Leweshaveamoreinformalmembership

schemewithmembersreceivingamonthly

newsletterupdatingthemonthelatestnews.Intermsoforganisationalstructure,Lewesand

Brixtoncurrencygroupshavebothoptedfor

theCommunityInterestCompany(CIC)limited

byguaranteestatus.TheCICmodelisseento

providesomeoftheadvantagesofboth

charitableandlimitedcompanystatusasit

allowsorganisationstoqualifyforcharitable

donationsbutalsoallowsthemtomakea

surplusaslongasthatsurplusisinvested

solelyinthecommunity.TheCICmodelalso

providesDirectorswithlimitedliability.Totnesstartedtheprocessofregisteringasan

IndustrialandProvidentSocietybutraninto

issueswiththeFinancialServicesAuthority.

Stroud,againfollowingtheChiemgauer,isa

cooperativeandmembersarechargedan

annualfee.Noneoftheotherthreecurrencies

operatefeebasedmembershipschemes.

Theoretical Roots

TheintellectualinspirationfortheTransitioncurrenciescanbefoundintheworkofauthors

suchasBernardLietaerandRichard

Douthwaite,whowroteontheneedforlocal

currenciestosupportlocaleconomiesinthe

faceofglobalisation(Douthwaite,1996;

Douthwaite,2000;Lietaer,2001).Rob

Hopkins,oneofthefoundersoftheTotnes

Pound,wasinspiredbyatalkheheardby

BernardLietaeraspartofashortcourseon

TheFutureofoneyheldatSchumacher

Collegein2006inTotnes,DevonwhereLietaerspeciMicallyreferencedtheU.S.Berkshareslocal

currency.TheBerksharescurrency,basedin

BerkshireinassachusettsintheU.S.was

foundedin2006bytheEFSchumacherSociety,

athink-tankpromotingecologicaleconomics.

TheeconomicargumentsfortheTransition

currenciesareoftenjustiMiedbyreferenceto

theideaofthelocalmultiplier.Thisideais

baseduponRichardKahns(andlaterKeynes)

notionofthespendingmultipliereffectatthe

nationalleveloftheeconomy,wherebyanincreaseingovernmentspending,iftranslated

intohigherlevelsofconsumptionby

individuals,canhaveaproportionatelygreater

effectontotaloutputoraggregatedemand

(Keynes1936;Hahn1931).Asthetransition

currenciescannotbebanked,thereisgreater

incentivetocirculatethemlocally,enhancing

localdemandandcreatingamultipliereffect

withinadeMinedlocalarea.

WithintheUKtheconceptofthelocal

multiplierhasbeendevelopedbynef(theneweconomicsfoundation),theLondon-based

think-and-do-tankwhichhas,throughits

researchandpublications,developedthe

argumentthatlocaleconomiesasproneto

leakagethroughtaxes,externalcontractors

andthenon-localsupplychainsand

shareholdersofnationalandinternational

chainstores.(WardandLewis2002).In

contrast,smallindependentshopsaremore

likelytoemploylocalMirmsforthesekindof

servicesandspendanyproMitslocally(Sacks2002).nefconductedastudyin2002which

suggestedonlyaround10-12penceofevery

poundspentinsupermarketchainsremained

withinthelocaleconomy,whilstamorerecent

studyoftheWestichiganEconomyintheU.S.

concludedthatifresidentsoftheareawereto

redirect10percentoftheirtotalspendingfrom

chainstolocallyownedbusinesses,theresult

wouldbe$140millioninneweconomic

activityfortheregion,including1,600newjobs

and$53millioninadditionalpayroll(Sacks,2002;CivicEconomics,2007).

Followingthislineofargument,theTransition

currenciescanbeseenaspromotingthe

mediumofexchangefunctionofmoneyatthe

expenseofthestoreofvaluefunction.The

tensionbetweenthesuccessfulfulMilmentof

thesetwofunctionsofmoneywithinasingle

unitofaccount(thethirdfunction)iswidely

seenamongstmonetarytheoristsasoneofthe

maincausesofinstabilityinthemodernMiat-

basedmonetarysystem(Dodd1994;Douthwaite1999).

Key Challenges 5

TheTransitioncurrenciesmajorsuccesssofar

hasbeenasawareness-raisingtools.Theyhave

generatedastonishingmediacoverageand

capturedthepublicimaginationlocally,

nationallyandinternationally.Nodoubtthe

colourfulandhighlyoriginalnote-designhas

playedamajorpartinthis.TheDirectorof

BrixtonTownCentre,forexample,saidofthe

BrixtonPoundthatithaddonemorefor

Brixtonsreputationthananythingsincethe

IJCCRTheUKTran

sitionCurrencies
http://www.berkshares.org/http://www.berkshares.org/http://www.berkshares.org/


30/33

Launch In Circulation 4 No. Businesses Population

Totnes March 2007 c.5000 c.70 (2008) 8,000

Lewes September 2008 (firstissue), July 2009, (2ndissue)

c.15,000 (2nd

issuance) c.130 16,000

Stroud September 2009 4,329 37 20,000

Brixton September 2009 30,000 140 65,000


IJCCRTheUKTransition

Currencies Table 1: Back round information on the Transition currencies an 2010

lightingofElectricAvenuein1900.TheLondon

BoroughofLambeth,whereBrixtonisbased,have

estimatedthevalueoftheschemeintermsof

positivemediacoveragetobearound100,000.Thereislittledoubtoftheimpacttheschemeshave

hadintermsofcreatingasenseofcommunitypride

anddiscussioninthefourareas.However,anumber

ofchallengeshaveemergedfortheschemesandthe

existing,UKsterling-backed,model.

a) Incentives for consumers and businesses

PerhapsthegreatestchallengefortheTransition

currenciesisthattheexistingmodelisdependent,

broadlyspeaking,uponnon-economicincentives.Asthecurrencyexchangesat1to1withUKsterlingand

noneoftheschemeshavebeensuccessfulin

implementingcompulsorydiscounts,consumers

mainmotivationforusingthecurrencyisabeliefin

theethicalprinciplesoftheinitiative.Thismay

restricttheuseofthecurrencytothesmall

proportionofthepopulationwhosharetheschemes

values.Evenwiththispopulationgroup,thereisthe

dangerofthenoveltyvaluewearingoffandthe

inconvenienceofcarryingtwopapercurrencies(and

ofusingapapercurrencyratherthanelectronicpaymentforlargerpurchases)outweighingthis

ethicalmotivation.Accessingthecurrencyalso

involvestwotransactionsinmostcases

withdrawingUKsterlingfromamachineandthen

purchasingthelocalcurrencyfromanissuingpoint.

Lackofknowledgeaboutthelocationofissuing

pointsisoftenquotedasareasonwhyusersdonot

usetheTransitioncurrenciesmoreoften.

Forbusinesses,themaineconomicincentivefor

acceptingthecurrencyisthefreemarketingwhichit

ishopedwillleadtoanincreaseinfootfall.However,

ifthemainusersofthecurrencyarecustomerswho

alreadyholdthevaluesadvocatedbythescheme,

businessesmayfeeltheincreasedfootfalleffectis

negligible.6

Thecosttobusinessesofdealingwithtwocurrencies

isalsoarguablygreaterthanforconsumers.

Businessescannot,atpresent,bankthelocal

currencies,hencetheymustspendthecurrencyon

supplies,offeritaspaymenttostaff,giveitaschange

oruseitpersonallyiftheyaretokeepitin

circulation.Whilstthiscouldbeseenasadvantagein

termsofthegoalsoftheschemetoencouragelocal

circulationofmoney,someofthetransitionschemes

havehadexperienceofbusinessesleavingthe

schemebecausetheyareunabletospendthecurrencyand/orseechangingitbacktoUKsterling

asa)acostandb)evidencethattheschemeisnot

workingadequately.

b) Social justice challenges

Relatedtotheabove,therearequestionsastohow

theTransitioncurrenciessupportpeopleor

businessesfacingMinancialexclusionoreconomic

hardship,anissuethathascometothesurface

signiMicantlyinthepasttwoyearswiththerecession.

Thehardcurrencymodeldoesnotcreateanykindof

additionalliquiditysinceeverynotemustbe

exchangedforUKsterlingandsofartheschemes

havebeenunabletodevelopaloanmechanism.Nor

doesitenableanyadditionaloralternativeformsof

exchangeorexploitunderutilizedcapacitieswithin

communities.Thiscontrasts,forexample,with

currencieswhichhavenon-monetarybacking,such

astime-backedcurrencysystems,whichareableto

involvepeopleinexchangeswhoarecurrently

excludedbythemarket.


31/33


ThetransitionmodeldoescreateaUKsterling

backingorassetequivalentinsizetothe

amountsoldandexploitingthisinsomeway

appearsasonepotentialwayofcreating

additionalliquidity,e.g.throughaloworzero

interestloanscheme.However,anykindof

loanschemewouldrequiresigniMicant

administrativeandMinancialinfrastructureandsofartheTransitionschemeshavebeenunable

toMindwillingpartners,althoughbothhigh

streetbanksandcreditunionshavebeen

involvedindiscussionsaboutpotential

collaboration.ThiscontrastswiththeUnited

States,wheretheBerksharesmodelhasthe

supportof5regionalbanksand12branches

andtheChiemgauerinGermanywhichalsohas

regionalbankingsupport.

c) Financial sustainability

TheTransitioncurrencies,aswiththeother

transitioninitiatives,weresetupasnot-for-

proMitschemesandhavebeendependent

mainlyonunpaidlabourandoneoffdonations.

Theyhavebeensuccessfulinattractingsmall

Minancialorin-kindinvestmentsfromlocal

councilsandbusinessestopayforevents,set-

upcosts,marketingandprintingofthenotes.

BothLewesandBrixtonweresuccessfulin

raisingsponsorshipfundsfromlocal

businessesinreturnforfeaturingtheir

businesslogosprominentlyontheirmarketingmaterials.BrixtonandLeweshavealso

recentlybeensuccessfulinattractingpart-time

fundingforaprojectmanagerfrom,

respectively,theLabourgovernmentsFuture

JobsFund(nowdroppedbytheCoalition

government)andfromaCharitableTrust.One

wayinwhichmoneyhasbeenandwill

continuetobegeneratedfortheschemesis

throughleakage-unredeemednotesuponthe

completionofthevalidityperiod.

Nevertheless,volunteerfatigueremainsa

majorchallengefortheTransitioncurrencies

giventhedependenceonunpaidlabourfor

muchofthepromotionalandbusiness

engagementwork.Stroudistheonlyinitiative

tohavebuiltintoitsmodelafacilityfor

generatingfundingthroughmembershipand

redemptionfeesbutatpresentthisdoesnot

generateenoughfundingtopayforlabour

time.

d) Measurement and Evaluation

Onemajordrawbackinusingpapernotesisit

thatnotpossibletotrackhowthecurrencyis

beingusedandhowmanynotesareactuallyin

circulation.Theschemeshavethusbeen

reliantonsimplebalanceofaccountsMigureson

issuanceandredemptionandadhocand

anecdotalfeedbackfrombusinessesand

consumersaboutactualusage.Thereisasuspicionthataconsiderableproportionofthe

notessoldarefornovelty/souvenirpurposes

ratherthanpurposesofnormalexchange.

Evidenceforthiscomesfrombothaslowdown

inissuanceafteraninitialhoneymoonperiod

andthenon-redemptionpercentageforLewes

followingthe1-yearpilot(admittedlyfeaturing

just1issuance)whichwasover50%.In

termsofattractingfurtherpublicorcharitable

sectorfunding,evidenceofimpactwillbe

importantfortheschemes.

e) Under-developed bankinginfrastructure and support

TheTransitioncurrenciesintheUKhave

struggledtoMindsupportfromeitherthe

mainstreamcommercialbankingorcommunity

Minancesectors.ThisplacessigniMicant

additionalburdenonthevolunteersinvolvedto

carryoutadministration,reconciliationand

accountingfunctions.Italsolimitsthe

potentialofdevelopinglocalcurrencybank

accountfacilitiesorloaninitiatives,bothof

whichmightbewelcomedbythesmall

businessessigneduptheschemes,manyof

whomstruggletoaccesscreditfrom

commercialbanks.

ItmaybethattheUKsbankingsystem,which

hasseenthegradualdisappearanceoflocaland

regionalbanksandareductioninbranches

followingtheMinancialderegulationofthe1980sand1990s(LeyshonandSignoretta

IJCCRTheUKTran

sitionCurrencies

volunteer fatigue remains a majorchallenge for the Transition currenciesgiven the dependence on unpaid labourfor much of the promotional andbusiness engagement work


32/33


33/33

IJCCRTheUKTran

sitionCurrencies Endnotes

1FurtherinformationabouttheemergenceoftheTransition

CurrenciescanbefoundinPeteNorthsrecentbook,Local

oney,publishedbytheTransitionnetworkinJune2010.

2FormoreinformationonthehistoryandaimsofTransition,

see:http://transitiontowns.organdRobHopkinsbook,The

TransitionHandbook:fromoildependencytolocalresilience,

(GreenBooks2008).

3AccordingtotheFederationofSmallBusinesses,2000local

shopsareclosingeachyearseeTradeLocalanifesto,http://

www.fsb.org.uk/default.aspx?id=0&loc=keeptradelocal.Despite

this,smallbusinessesaccountforthemajorityofprivatesector

jobsintheUK:59.2%in2007,around13.5millionjobsoverall

4N.b.thisMigureistheamountofcurrencyactuallyincirculation

ratherthanthetotalamountofnotesissued.

5Itshouldbenotedthataccuratedataontheimpactof

TransitionCurrenciesislimitedastherehasbeenveryfew

robustempiricalstudiesoftheschemes.6ArecentstudyoftheLewesPoundfoundthat70%oftraders

felttheschemehadmadelittledifferencetofootfall.See

Graugard,J,(2009)Amixed-methodcasestudyoftheLewes

Poundanditscapacitytobuildresilienceinthecommunityof

Lewes,unpublishedAthesis,UniversityofEastAnglia.

7The-pesaschemeinKenyaallowsMinancialpaymentsusing

mobilephonesandhashelpedrevolutionizethefarmingtrade.

Seehttp://www.safaricom.co.ke/index.php?id=745

References

CivicEconomics(2007)TheSanFranciscoRetailDiversity

Study,http://www.civiceconomics.com/SF[accessed16th

April2009]

Dodd,N.B.,1994,TheSociologyofoney,Cambridge:Polity;

Douthwaite(1999)TheEcologyofoney,Totnes:GreenBooks

Douthwaite,R.,(1996)ShortCircuit:StrengtheningLocaleconomiesforsecurityinanunstableworld,Totnes:Green

Books;

Douthwaite,R.,(1999)TheEcologyofoney,Totnes:Green

Books

Gelleri,C.,ChiemgauerRegiomoney:TheoryandPracticeofa

LocalCurrency,InternationalJournalofCommunityCurrency

Research,Vol13(2009)pp.61-75

Gesell,Silvio.TheNaturalEconomicOrder,Revisededition.

London:PeterOwen,1958.

Kahn,R.F.,Therelationofhomeinvestmenttounemployment,TheEconomicJournal,June1931,Vol.41,No.162(Jun.,1931),

pp.173-198

Keynes,J.,[1936](2008)TheGeneralTheoryofEmployment,

Interestandoney,BNPublishing

Leyshon,A.andSignoretta,P.(2008)Allgonenow:thematerial,

discursiveandpoliticalerasureofbankandbuildingsociety

branchesinBritain.Antipode,40:79101.

Lietaer,B.,(2001)TheFutureofoney:CreatingNewWealth,

WorkandaWiserWorld,London:Century

Sacks,J,(2002)TheoneyTrail,Appendix5,London:nef(the

neweconomicsfoundation),pp114-117,accessibleathttp://

www.neweconomics.org/gen/uploads/The%20oney

%20Trail.pdf

Stodder,J,(2005)ReciprocalExchangeNetworks:Implications

formacroeconomicstability

TransitionBristol,(2010)ABristolPoundfortheCityandthe

Southwest,availableatwww.agoraspace.org/document/pdf/

document1002_5_1051.pdf[accessed22ndJune2010]

Walker,B,Hollinger,C.S,Carpenter,S.R.&Kinzig,A.(2004)

Resilience,AdaptabilityandTransformabilityinSocial

ecologicalsystems.EcologyandSociety9(2)p5.

Ward,B,andLewis,J.,(2002)PluggingtheLeaks:makingthe

mostofeverypoundthatentersyourlocaleconomy,nef(new

economicsfoundation
http://transitiontowns.org/http://www.fsb.org.uk/default.aspx?id=0&loc=keeptradelocalhttp://www.fsb.org.uk/default.aspx?id=0&loc=keeptradelocalhttp://www.safaricom.co.ke/index.php?id=745http://www.civiceconomics.com/SFhttp://www.neweconomics.org/gen/uploads/The%20Money%20Trail.pdfhttp://www.neweconomics.org/gen/uploads/The%20Money%20Trail.pdfhttp://www.neweconomics.org/gen/uploads/The%20Money%20Trail.pdfhttp://www.agoraspace.org/document/pdf/document1002_5_1051.pdfhttp://www.agoraspace.org/document/pdf/document1002_5_1051.pdfhttp://www.agoraspace.org/document/pdf/document1002_5_1051.pdfhttp://www.agoraspace.org/document/pdf/document1002_5_1051.pdfhttp://www.agoraspace.org/document/pdf/document1002_5_1051.pdfhttp://www.agoraspace.org/document/pdf/document1002_5_1051.pdfhttp://www.neweconomics.org/gen/uploads/The%20Money%20Trail.pdfhttp://www.neweconomics.org/gen/uploads/The%20Money%20Trail.pdfhttp://www.neweconomics.org/gen/uploads/The%20Money%20Trail.pdfhttp://www.neweconomics.org/gen/uploads/The%20Money%20Trail.pdfhttp://www.neweconomics.org/gen/uploads/The%20Money%20Trail.pdfhttp://www.neweconomics.org/gen/uploads/The%20Money%20Trail.pdfhttp://www.civiceconomics.com/SFhttp://www.civiceconomics.com/SFhttp://www.safaricom.co.ke/index.php?id=745http://www.safaricom.co.ke/index.php?id=745http://www.fsb.org.uk/default.aspx?id=0&loc=keeptradelocalhttp://www.fsb.org.uk/default.aspx?id=0&loc=keeptradelocalhttp://www.fsb.org.uk/default.aspx?id=0&loc=keeptradelocalhttp://www.fsb.org.uk/default.aspx?id=0&loc=keeptradelocalhttp://transitiontowns.org/http://transitiontowns.org/

Community Currency Magazine April 2011

Documents

Transcript of Community Currency Magazine April 2011