Local Currencies,...
Follow
Find
1.7K views | +7 today
Local Currencies, Local Investment, and the Emerging New Economy
Local currencies and the emerging new economy
Curated by John Boik
Your new post is loading...
Your new post is loading...
Scooped by John Boik
Scoop.it!

Capacity trade and credit: emerging architechtures for commerce and money

Capacity trade and credit: emerging architechtures for commerce and money | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
This report looks at the feasibility and benefits of establishing a capacity exchange, or hub of capacity exchanges in the UK, and the regulatory structure which would be needed to support it.
John Boik's insight:

City of London report on barter exchange, local currencies, and related systems.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Can local currencies help advance global sustainability?

Can local currencies help advance global sustainability? | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
Local financial systems that put people and the environment at their heart are welcome, but can these new models be truly scaled, asks author John Boik
John Boik's insight:

I'm pleased to have my first article published in The Guardian.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

BNote Baltimore currency: Group proposes alternative currency to support local economy

BNote Baltimore currency: Group proposes alternative currency to support local economy | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
A Baltimore group wants to put civic pride in your wallet. The Baltimore Green Currency Association, a nonprofit that aims to help small restaurants and mom-and-pop retailers fend off the big...
John Boik's insight:

As of December 6, 2012, over 29,000 BNotes have been exchanged into circulation and are being accepted in communities across the city.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Community Currency: A Boost for East Vancouver Businesses

Community Currency: A Boost for East Vancouver Businesses | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it

Dreams of an alternative economy live on with a do-it-yourself currency.

John Boik's insight:

Yet another new local currency initiative, this one in Vancouver, BC.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

The “Eusko”, a new local currency for the Basque Country | A Basque in Boise

The “Eusko”, a new local currency for the Basque Country | A Basque in Boise | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it

Banknotes will be issued to help “the emergence of a greener and more human economy” that boosts local businesses. A similar system has been successfully working in Bavaria since 2003.

John Boik's insight:

“Eusko” banknotes are issued and can be purchased at a fixed rate in euros. EM banknotes can then be used in all Basque shops and businesses that accept them.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

The rise of Brazil's social currencies - Brazil Property

The rise of Brazil's social currencies
Brazil Property
The reason for using these hyper-local currencies is simple.
John Boik's insight:

Brazil's central bank, which was initially wary of the spread of social currencies, has now backed the idea, meaning that the wealth generated from a stronger local economy can be translated onto a national level.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Spain's entrepreneurs carving a new path amid economic crisis

Spain's entrepreneurs carving a new path amid economic crisis | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
Amid Spain's economic and political problems, there are some remarkable developments happening in the social enterprise sector, explains Christina Rebel (#Spain's entrepreneurs carving a new path amid #economic crisis.
John Boik's insight:

Cooperatives and more!  Spain is innovating.

more...
Pedro C.'s comment, January 16, 2013 12:30 PM
Seems Europe will be leading the upgrade of Democracy.Exciting stuff from Greece too: http://bit.ly/UoW5rD
Scooped by John Boik
Scoop.it!

Community currency appears to be catching on | News-Gazette.com

Community currency appears to be catching on | News-Gazette.com | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
URBANA — The effort to use local currency to promote local business continues to grow, with more than 60 Champaign-Urbana merchants agreeing to accept UC Smiles.That's up from the 40 merchants who agreed to use the currency when it was unveiled in...
John Boik's insight:

How do they pay for operational costs? "For now, Kim said, operational costs are being covered by two grants. But for the long term, organizers are investigating other revenue sources, including online fundraising, federal dollars for community development and identifying potential donors."

more...
No comment yet.
Scooped by John Boik
Scoop.it!

The Worker Self-Directed Enterprise: A "Cure" for Capitalism, or a Slippery Slope to Socialism?

The Worker Self-Directed Enterprise: A "Cure" for Capitalism, or a Slippery Slope to Socialism? | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
Based on our experience of these last few years, the 1 percent is more likely to set up the game so that you and I of the 99 percent will lose the house and the job. So, if it doesn't pay to work for "The Man," what hope do we have?
John Boik's insight:

Although not focued on in this article, small businesses are a very important component of the U.S. economy. Worker self-directed enterprises (and the Principled Business model of Principled Societies) could play an important role here.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

2nd International Conference on Complementary Currency Systems

2nd International Conference on Complementary Currency Systems | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
It calls for papers on complementary currency systems, historical experiences with multiple monies, alternative exchange networks, and other practices with diverse means of payment. It seeks to discuss the social, economic ...
John Boik's insight:

Academic examinations of complementary currencies.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Euros discarded as impoverished Greeks resort to bartering

Euros discarded as impoverished Greeks resort to bartering | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
Communities set up local currencies and exchange networks in attempt to beat the economic crisis
John Boik's insight:

"...everything from yoga sessions to healthcare, babysitting to computer support – are traded in lieu of credits"

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Shareable: Can Local Currencies be the Foundation for the Sharing Economy?

Shareable: Can Local Currencies be the Foundation for the Sharing Economy? | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it

A relatively new financial tool is emerging that could greatly strengthen the sharing movement. The tool is local currencies, which are popping up in cities across the globe. Excitement is spreading, in part due to desperate economic conditions and the potential of local currencies to boost local economies.

John Boik's insight:

The Shareable blog is the second stop of five in the January, 2013 virtual book tour.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Principled Societies Project Part I: Local Financial System

This video introduces the Token Exchange System, a local monetary/financial system being developed by the Principled Societies Project, based on the book "Cr...
John Boik's insight:

I am delighted to announce that the first animated video of the Principled Societies Project is now posted!

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Weathering Climate Change: The Role of Local Currencies (SSIR)

Weathering Climate Change: The Role of Local Currencies (SSIR) | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
Local currency systems could strengthen metro economies and provide funds to address climate change and other urban problems.
John Boik's insight:

My first article in Stanford Social Innovation Review

more...
No comment yet.
Scooped by John Boik
Scoop.it!

10 percent: The Local Stimulus - BusinessWeek

10 percent: The Local Stimulus - BusinessWeek | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
Yesterday we asked whether promoting shopping at local businesses would be enough to revive the economy in Wilmington, Ohio, from the 8,000 jobs being lost as DHL shuts down its hub there. Today, I found this chart from a study...
John Boik's insight:

Local currencies can act as "buy local" programs.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Is a revolution in economic thinking under way?

Is a revolution in economic thinking under way? | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it

Four years after the start of the Great Recession, the global economy has not recovered, voters are losing patience and governments around the world are falling like ninepins. This is a situation conducive to revolutionary thinking, if not yet in politics, then maybe in economics.

John Boik's insight:

"...miracles could be achieved without painful tax increases or spending cuts, by restoring to governments the exclusive right to create money they gradually lost to commercial banks"

more...
No comment yet.
Scooped by John Boik
Scoop.it!

The Next Money: As the Big Economies Falter, Micro-Currencies Rise

The Next Money: As the Big Economies Falter, Micro-Currencies Rise | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
More consumers are walking away from fiat currencies to drive commerce -- and society -- with new ways of buying.
John Boik's insight:

Area residents can purchase Chiemgauer notes with their euros, but there are rules for how much it costs and what you can do with it. To maintain an individual bill's validity, the local banks that run the Chiemgauer charge a 2% fee every three months, a way to encourage spending and discourage hoarding or speculation, also known as "demurrage".

more...
SustainOurEarth's comment, January 20, 2013 4:01 PM
So in other words, the local banks are still encouraging consumption and discouraging savings. It seems it still perpetuates the behavior that got us into our current mess. This local currency is actually just pre-paid local consumption certificates that lose their value over time if not spent( just like monetary inflation). If you live in a national monetary high inflation environment and the banks fees were capped, it could possibly be used by individuals as an averaging tool to temporarily hedge against inflation, but that would just further debase the national currency causing inflation in the local currency. The problem you have with all currency is one of how to keep it in circulation( but at a level that does not cause inflation). As I see it( I am not an economists), currency tends to flow and accumulated to a minority privileged class at the top of the economic ladder were it is "horded" as the source of their economic and political, privilege, wealth and power. The now so called 1%, often have more than they can productively use or spend in their(or anybody else) lifespan. Progressive tax systems have been developed to address this situation but by and large are rendered ineffective due to the political clout of the 1% and thereby their ability to avoid any significant taxation and redistribution. You can also put large international corporations into this category. Thus, pushing the burden of taxation and maintaining government revenues(for services) onto the rest of us. So the question becomes, what effect do micro-currencies have on national and local taxation and providing of government services, and do they have any real value apart from their national currency?
Micro-currencies are also an attempted shift away from globalization toward localism, and communities will quickly find out what they can't purchase with local currency because most things are not likely made or produced locally. So I would think It is most likely services that are traded for local currencies as materials would generally be imported from outside the community, purchased with a national or international currency. I guess the ultimate value of any currency will be the extent it can provide an individual with food, shelter, and energy to maintain a certain minimum level of acceptable lifestyle. Of course, if larger economies do collapse, local micro-currencies can only hope to help to the extent that they can be backed by some hard spendable resource such as gold, silver, oil or other energy source etc. The development of these local micro-currencies, it seems to me, is and indication of the structural flaws in the current international/global economies which has failed to "raise all boats" with it's "in-coming tide." Some how we must find a way to develop a global economy more suitable and sustainable for our finite planet other than our current one of mass unsustainable consumption of finite resources. It seems to me( a biologist) that micro-currencies are an indicator, not a solution to the current problem of unsustainable consumption of finite resources. We have met Gargantua and he is Us!
Panton ut redundo
John Boik's comment, January 22, 2013 7:53 PM
Hello SustainOurEarth. Thanks for the comment. And thanks for the RTs on Twitter.

You raise a bevy of important issues. Do we need to address inequities in income and wealth, and the factors that encourage wasteful consumerism? Yes. Can local currencies help us do this? Depending on their design, I believe some can. As you point out, certain local currencies are voucher systems, in which dollars are traded for local bills. If effect, these function like "buy local" programs. Such programs have purpose and benefits, and so should not be discounted. But they do not directly address a host of important socioeconomic and environmental issues. A local currency system could offer more.

I disagree with you that micro-currencies are only an indicator of weaknesses within our current monetary, financial, and corporate systems. I believe that if a local currency is well-designed, it could directly address many of the pressing problems that we now face. Not that local currencies are the only answer, or the full answer, but I think they could play a critical and beneficial role.

As for the Token Exchange System I am developing through the Principled Societies Project, the next step is to develop computer simulation models of token and dollar flow within a local virtual economy. Once completed, the models should help us better understand the full potential.
Scooped by John Boik
Scoop.it!

Is There an Alternative for Capitalist Economics and Politics? Richard Wolff ... - Truth-Out

Is There an Alternative for Capitalist Economics and Politics? Richard Wolff ... - Truth-Out | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it

Is There an Alternative for Capitalist Economics and Politics? Richard Wolff ...

John Boik's insight:

Thoughtful interview with Richard Wolff on TruthOut.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Still Need Convincing? Here Are 6 More Reasons To Buy Local

Still Need Convincing? Here Are 6 More Reasons To Buy Local | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
For a real economic recovery to take off nationally, it must happen among the millions of small enterprises in our cities and towns.
John Boik's insight:

Six good reasons to buy local.  And even more reasons to invest local.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

New Approaches to Finance Sustainability: Local Currencies and the Token Exchange System

New Approaches to Finance Sustainability: Local Currencies and the Token Exchange System | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
By John Boik

America may be an optimistic country, but these days public sentiment has soured. Gallop polls indicate confidence in Congress and big business is dismal.
John Boik's insight:

This is the 3rd of 4 stops on the virtural book tour for "Creating Sustainable Societies."  Please join me and comment.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Have local currencies got it wrong? |  REconomy

Have local currencies got it wrong? |  REconomy | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it

The rapid development of Transition has been nothing short of miraculous, but if it is to make genuine inroads into truly highlighting & facilitating a third option of sustainability over boom & bust then it is time to accept that we must compete in the real world in order for our message to resonate with enough people to really start to count.

John Boik's insight:

Thoughtful article about how local currencies might fit into the larger economy and desire for social change.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Greek community's alternative currency

Greek community's alternative currency | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
A small community in Greece adopts a bartering system as an alternative way to purchase goods amidst the financial crisis gripping the country.
John Boik's insight:

Grass-roots currency initiative has grown into a network of more than 800 members

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Why Won't the Wall Street Journal Cover the Cooperative Economy ...

Why Won't the Wall Street Journal Cover the Cooperative Economy ... | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it
Cooperative businesses are proliferating quickly, but you wouldn't know it from reading the Wall Street Journal.
John Boik's insight:

"...coverage between January and November of 2012 by the [Wall Street Journal] found ten times more references to caviar than to employee-owned firms, a growing sector of the economy that involves more than $800 billion in assets and 10 million employee-owners"

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Do local currencies work? | CLES

Do local currencies work? | CLES | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it

Six years on from its launch, a local currency in the United States continues to inspire others. But what can it tell us about their potential to nurture vibrant, distinctive local economies?

John Boik's insight:

Valuable insight and comparisons between two current local currency systems.

more...
No comment yet.
Scooped by John Boik
Scoop.it!

Polis: Local Currency Supports Resilient Cities

Polis: Local Currency Supports Resilient Cities | Local Currencies, Local Investment, and the Emerging New Economy | Scoop.it

In the face of economic hardship, local currencies are springing up in cities from Bristol to Boston and beyond. These currency systems, if developed fully, could prove vital in empowering cities to respond to climate change and meet ongoing needs.

John Boik's insight:

This is the first of five blogs on my virtual book tour for "Creating Sustainable Societies." Please join in, and leave a comment/question!

more...
No comment yet.