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IJCCR
www.ijccr.net
International Journal ofCommunity Currency Research
Volume 15 (2011) Special issue
COMPLEMENTARY CURRENCIES: STATE OF THE ARTedited by Noel Longhurst and Gill Seyfang
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Complementary Currencies: The State of the Art
IJCCR 15 (2011) Special Issue (Section D)Edited by Noel Longhurst and Gill Seyfang
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International Journal of Community Currency Research 15 (2011) D i i
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Note from the Editors:The State of the Art Noel Longhurst and Gill Seyfang
International Journal of Community Currency Research
IJCCR
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 1-3 1
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Editorial:Yet another moment of truth? David Boyle
Fellow of new economics foundation and co-founder of Time Banking UK
www.david-boyle.co.uk
International Journal of Community Currency Research
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International Journal of Community Currency Research 15 (2011) D 1-3 2
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?So you have to take any predictions along these lines with a pinch of salt. We have been here before; we will undoubtedly be here again. But the articles in this issue of IJCCR are evidence that this is one of those moments of possibility.
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International Journal of Community Currency Research 15 (2011) D 1-3 3
IJC
CR
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b
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c 4"%&3'( $*/5"-6&$7( )"$*+,( G$ <%.$ -9%6-.#$ S%<#&''1$9'.#,2$ )"%+#5$ &#*4##.$ 8+-#.5)$ V$ '+$ %*$ /#%)*$ *"')#$(-+*7%/$8+-#.5)$4"'$.##5$)'9#*"-.6$9'+#$*"%.$)-93/#$*+7)*:$ !"#$ './-.#$ <'997.-*-#)$ %/+#%5,$ #Y-)*$ %.5$ %+#$<+,-.6$'7*$8'+$%$37+3')#$&#,'.5$*"#9)#/(#):$!"#$3'-.*$%&'7*$ *"-)$ -..'(%*-'.2$ /-1#$ '*"#+$ )7<<#))87/$ -.*#+.#*$-..'(%*-'.)2$ -)$ *"%*$ -*$ 97)*$ &#$ O/#Y-&/#$ #.'76"$ 8'+$<'997.-*-#)$ '+$.#-6"&'+"''5)$ *'$ 7)#$-*$ -.$4"%*#(#+$4%,$)7-*)$*"#9$&#)*:
?-//$*"-)$"%33#.j$?#//2$G@9$%.$'3*-9-)*:$G$&#/-#(#$-*$-)$*"%*$-8$ ,'7$ &7-/5$ *"#)#2$ 3#'3/#$4-//$ <'9#:$?"#*"#+$ *"#,$ 4-//$7)#$*"#9$ %)$ -.*#.5#52$ '+$ '&#,$ *"#$<'93/#Y$ +7/#)2$4#//$V$*"%*@)$%.'*"#+$9%**#+:
David Boyle is a fellow of the New Economics Foundation, co-founder of Time Banking UK, and the author of a number of books about the future of money including Money Matters and, most recently, he is co-author of Eminent Corporations.
www.david-boyle.co.uk
Endnotes
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International Journal of Community Currency Research 15 (2011) D 4-10 4
1. The problem of naming and classifying
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T(%&5*%0%#'&0(,*'&535%*&3")0&3'&5*,5,0"#+&;320&',&67"89&'25,8,+"%0&"#&3&=8%G"68%&-*3)%;,*@4&368%&',&"#$879%&-7*'(%*&9%:%8,5)%#'0&,-&'(%&)3''%*>&!%$'",#&O&9"0$700%0&'(%&5*"#$"58%0&,-&3&//&'25,8,+2>&!%$'",#&U&5*,5,0%0&3&9"0'"#$'",#&6%';%%#&8,$384&$,))7#"'24&3#9&$,)58%)%#'3*2&$7**%#$"%04&630%9&,#&'(%&0$(%)%0V&5*,<%$'0>&!%$'",#&W&
Classifying “CCs”:Community, complementary and local currencies’ types and generations Jérôme Blanc
Associate professor, Lyon University member of the LEFI Research Centre (Lboratoire d’économie de la firme et des institutions
International Journal of Community Currency Research
IJCCR
Abstract
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
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 4-10 5
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2. Principles of a typology
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3. Ideal types according to projects
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“CC
s” “One possible conclusion is that there is no easy way of building a common typology, unless its purpose is made clearer.”
![Page 9: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/9.jpg)
International Journal of Community Currency Research 15 (2011) D 4-10 6
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International Journal of Community Currency Research 15 (2011) D 4-10 7
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4. Moves: generations of schemes
H#(,/',7-6/',)-;,-),6/""#)61,'65#.#',(52(,#.#"*#3,2)3,3#:#0-!#3,'&)6#,(5#,32;),-7,HI9J,&),(5#,4#*&))&)*,-7,(5#,KLMN'8,O#,!"-!-'#,2,'#6-)3,0#:#0,-7,(1!-0-*1+,3&'(&)*/&'5&)*,7-/",*#)#"2(&-)'+,#265,6-.4&)&)*,&),2,3&77#"#)(,;21,(5#,(5"##,!"#:&-/',&3#20$(1!#'8,95#'#,*#)#"2(&-)',2"#,652"26(#"&?#3,41,2,'!#6&>&6,.-)#(2"1,-"*2)&?2(&-),2)3,'!#6&>&6,"#02(&-)'5&!',;&(5,(5#,'-6&-$#6-)-.&6,;-"03,2)3,;&(5,*-:#").#)(',E0-620,-",6#)("20F,2',;#008,95#1,#.#"*#,(5"-/*5,&))-:2(&-),!"-6#''#'8,95#1,-:#"02!+,'&)6#,(5#,#.#"*#)6#,-7,2,)#;,*#)#"2(&-),3-#',)-(,!/(,2),#)3,(-,(5#,7-".#"P,2)3,(5#1,2"#,!"-*"#''&:#01,("2)'7-".#3+,'&)6#,2,
IJCCR
Cla
ssify
ing
“CC
s”
Nature of projects
Space considered Purpose Guiding principle
Denomination (English / Spanish / French)
“CCs”“CCs”“CCs”“CCs”“CCs”
Territorial Geopolitical space (territory politically defined)
Defining, protecting and strengthening a territory
Redistribution or political control
Local currencies / Monedas locales / Monnaies locales
Community Social space (pre-existing or ad hoc community)
Defining, protecting and strengthening a community
Reciprocity Community currencies / Monedas sociales / Monnaies sociales
Economic Economic space (production and exchange)
Protecting, stimulating or orientating the economy
Market Complementary currencies / Monedas complementarias / Monnaies complémentaires
Outside “CCs”Outside “CCs”Outside “CCs”Outside “CCs”Outside “CCs”
Territorial Sovereign space Sovereignty Redistribution or political control
National currencies / monedas nacionales / monnaies nationales
Economic Clients of a for-profit organization
Profit Purchasing power capture
For-profit currencies / Monedas para lucro / Monnaies à but lucratif
Table 1: Ideal-types of currency schemes
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International Journal of Community Currency Research 15 (2011) D 4-10 8
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IJC
CR
Cla
ssify
ing
“CC
s”
“We propose a second level of typology, distinguishing four generations, each combining in a different way the three previous ideal-types. These generations are characterized by a specific monetary organization and specific relationships with the socio-economic world and with governments (local or central) as well.”
![Page 12: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/12.jpg)
International Journal of Community Currency Research 15 (2011) D 4-10 9
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+$<")*$#+$'!/&"--.+-&#*)+&'0!$&$+<+)&5+?*)+7&P./'"(/+:"'1&/+!4-&'*&,*-'/1&()*O+,'-&'0!'&!)+&4"?9",./'&'*&+$%"$++)&!$4&'0!'&)+>.")+&!&,*#(/+:&%*<+)$!$,+7&Q*,!/&%*<+)$#+$'-2&+$'+)()"-+-&
A?)*#&-#!//&*$+-&'*&#!O*)&9")#-62&$*$D()*9"'&*)%!$"F!'"*$-2&$!'"*$!/&()*%)!##+-&!$42&"$&'0+&R.)*(+!$&J$"*$2&R.)*(+!$&()*%)!##+-2&0!<+&'*&5+&%!'0+)+4&!)*.$4&'0*-+&()*O+,'-7&8$&+:(+)"#+$'!'"*$&(0!-+&!((+!)-&'*&5+&$+,+--!)1&
5+?*)+&/!.$,0"$%&'0+&()*O+,'&*$&!&/!)%+)&-,!/+7&E0+&IJ&()*O+,'&!"#+4&!'&"$,"'"$%&-.-'!"$!5/+&5+0!<"*.)-&'0)*.%0&'0+&4"-')"5.'"*$&*?&!&,*#(/+#+$'!)1&,.))+$,1&"$&)+/!'"*$&3"'0&'0*-+&5+0!<"*.)-S&/*,!/&*)&*)%!$",&()*4.,'&
,*$-.#('"*$2&?!")&')!4+2&3!-'+&)+,1,/"$%777&E0+&T)+$,0&NUQ&()*%)!##+2&"#(/+#+$'+4&-"$,+&KLLV2&"-&!$*'0+)&,!-+&*?&?*.)'0&%+$+)!'"*$&-,0+#+&30*-+&!),0"'+,'.)+&"-&$*'!5/1&,*#(/+:7&@'&,*#5"$+-&!&/*1!/'1&,!)4&?*)&-.-'!"$!5/+&
,*$-.#('"*$&,/*-+&'*&,*##+),"!/&/*1!/'1&-,0+#+-2&!&)+3!)4"$%&-,0+#+&?*)&<*/.$'!)1&!,'"*$&,/*-+&'*&'0+&9")-'&!$4&-+,*$4&%+$+)!'"*$-&*?&==&-,0+#+-2&!$4&!&)+4"-')"5.'"*$&-,0+#+7&&
5. Conclusion
E0+&,/!--"9",!'"*$&!''+#('&"$&'0"-&'+:'&!((+!)-&'*&5+&9/+:"5/+&+$*.%0&'*&+$-.)+&'0+&(*--"5"/"'1&*?&!&41$!#",&<"+3&*?&,.))+$,1&-,0+#+-7&E0+&"4+!/&'1(+-&*?&,*##.$"'12&,*#(/+#+$'!)1&!$4&/*,!/&,.))+$,"+-&/+'&'0+&(*--"5"/"'1&*?&
,*#5"$!'"*$-&!5/+&'*&!$!/1F+&,*$,)+'+&?*)#-&*?&$*$D$!'"*$!/&!$4&$*'D?*)D()*9"'&,.))+$,"+-7&E0+&
IJCCR
Cla
ssify
ing
“CC
s”
Gene-ration
Significant cases
Currency scheme types
Guiding principle Content overview
G1 LETS, trueque, CES
Mostly community
Reciprocity first; various distance to market
Inconvertible schemes; quite small openness to external economic activities
G2 Time banks, Accorderie
Community Reciprocity first; various distance to local governments
Inconvertible schemes with time currencies; frequent partnerships, especially with local governments
G3 Ithaca Hour, Regio, Palmas, BerkShares
Local and complementary
Market first; generally distant from local governments
Convertible schemes; local businesses are included; interest of partnerships with local governments
G4 NU, SOL Mostly complementary
Market first, with links to governments and reciprocity
Complex schemes oriented toward consumer responsibility or / and economic activities re-orientation and other purposes; partnerships are necessary
Table 2: Four CC Generations since the 1980s
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International Journal of Community Currency Research 15 (2011) D 4-10 10
!"#"$#$%&'(#)"*'#+,&$-)$.),$/"0"&%-!1)(-23)4$0")&45$0!(-!3)50$6&!)4$!&/",)4+,!)7")"458(,&9"2:);!)&,).0"<+"-!3)&-2""23)!$)'$-,&2"0).$0=50$6&!)'+00"-'&",)(#$-%)>&!8)??),'8"4",3),!(!&-%)!8(!)!8"1)(##)0"."0)!$)-$-=-(!&$-(#)'+00"-'&",)(-23)!8+,3)!8(!)!8"1)(0")(##)@'$45#"4"-!(01A:)B8")50","-!)!15$#$%1),!(!",)!8(!).$0=50$6&!)'+00"-'&",)(0")$.)(-$!8"0)-(!+0")!8(-)??,3)(-2)&!)20(>,)+5)(-)&2"(#=!15")$.)??,)7+&#!)(0$+-2)()2"4$'0(!&')5(0!&'&5(!&$-)50&-'&5#")$0%(-&9"2)(0$+-2)-$-=50$6&!)$0%(-&9(!&$-,3)%0(,,0$$!,)$0%(-&9(!&$-,)$0)&-.$04(#)%0$+5&-%,)$.)5"0,$-,:)
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
Endnotes
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
References
T#(-')UV0W4")MRFFDN3)X?$-!0(&-!",)"!)'8$&*)$0%(-&,(!&$--"#,)2(-,)#",)2&,5$,&!&.,)2")4$--(&",),$'&(#",X3)Y--(#,)$.)Z+7#&')(-2)?$$5"0(!&/")['$-$4&',3)EFM\N3)55:)Q\]=Q]]:)
S"^"#"+-("0")J!"58"-)(-2)T#(-')UV0W4"3)@J1,!"4,)_)^"'8(-&,4,A3)&-)`)S"^"+#"-("0")J!"58"-)M?$$02:N3)MRFF]N3)J$'&(#)^$-"1)a$0I,8$5:)P('&#&!(!&$-)?$44&!!"")b"5$0!3)RFFc=RFF]3)P$-2(!&$-)5$+0)#")Z0$%0d,)2")#K8$44"3)Z(0&,:
e"--"21)^(0%0&!)(-2)f&"!("0)T"0-(02)MRFF\N3)b"%&$-(#>g80+-%"-:)H"+")a"%")9+)-('88(#!&%"4)a$8#,!(-23)^h-'8"-`)b&"4(--)i"0#(%:)B0(-,#(!"2)&-)P0"-'8)`)^$--(&",)bV%&$-(#",)`)2")-$+/"##",)/$&",)/"0,)+-")50$,5V0&!V)2+0(7#"3)Z(0&,`)[2&!&$-,)?8(0#",)fV$5$#2)^(1"03)RFFE:
Z$#(-1&)e(0#)MCDQ]N3)XB8")['$-$41)(,);-,!&!+!"2)Z0$'",,X3)&-`)?$-0(2)Y0"-,7"0%3)e(0#)Z$#(-1&)(-2)j(001)a:)Z"(0,$-)M[2,:N3)B0(2")(-2)^(0I"!)&-)!8")[(0#1)[45&0",:)['$-$4&",)&-)j&,!$01)(-2)B8"$013)H">)k$0I`)P0"")Z0",,3)55:)R\L=R]F:
IJCCR
Cla
ssify
ing
“CC
s”
![Page 14: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/14.jpg)
International Journal of Community Currency Research 15 (2011) D 11-16 11
Lessons of experience
!"#$#%"&'#%(##)%*"+,-&).-%+/%#01#$23#)*-%42*"%5+33,)2*6%5,$$#)52#-%&$+,).%*"#%4+$7.%+'#$%*"#%7&-*%/#4%.#5&.#-8%9-*23&*#-%'&$6%&-%*+%*"#%),3(#$%+/%&5*2'#%-6-*#3-%(,*%3+-*%-6-*#3-%*"&*%&$#%-*&$*#.%.+%)+*%(#5+3#%-,-*&2)&(7#8%:&)6%5,$$#)52#-%"&'#%)+*%#-*&(72-"#.%*"#3-#7'#-%(#6+).%&%$#7&*2'#76%-3&77%;$+,1%<*6125&776%7#--%*"&)%=>>%1&$*2521&)*-?%&).%3&)6%-6-*#3-%&$#%3+$2(,).8%@%/#4%"&'#%#-*&(72-"#.%*"#3-#7'#-%&).%&**$&5*#.%&%7+*%+/%&**#)*2+)8%
A*%2-%231+$*&)*%*+%&)&76-#%&).%.2--#32)&*#%*"#%7#--+)-%/$+3%(+*"%-,55#--%&).%/&27,$#%*+%#)5+,$&;#%&%)#4%;#)#$&*2+)%+/%-,-*&2)&(7#%-6-*#3-8
Critical Success Factors
!"#%/#4%-6-*#3-%*"&*%"&'#%7&-*#.%&%7+);%*23#%-"+4%*"&*%2*%2-%1+--2(7#%*+%-,-*&2)%&%7+5&7%5,$$#)56%+'#$%&%7+);%1#$2+.8%
B$2*25&7%/&5*+$-%/+$%*"#%-,55#--%+/%*"#%5,$$#)56%2)57,.#C
D B"+25#%+/%5,$$#)56%.#-2;)%*+%-,2*%7+5&7%5+).2*2+)-%&).%;+&7
D B+-*%$#5+'#$6%3#5"&)2-3-%*+%#)-,$#%-,-*&2)&(272*6%+/%*"#%-6-*#3%2*-#7/
D E+'#$)&)5#%-*$,5*,$#-%&).%1$+5#--#-%/+$%.#52-2+)%3&F2);%&).%5+)G725*%$#-+7,*2+)
D :&)&;#3#)*%-*$,5*,$#-%&).%1$+5#--#-%/+$%.&6%*+%.&6%#/G252#)56
D :&$F#*2);%&).%HI
D 9.,5&*2+)%&).%*$&2)2);8%
J+,%3&6%"&'#%&%4#77K5"+-#)%.#-2;)L%$#5+'#$%&77%5+-*-L%"&'#%;$#&*%;+'#$)&)5#%&).%3&)&;#3#)*%(,*%2/%)+K+)#%F)+4-%&(+,*%6+,$%-6-*#3L%,).#$-*&).-%4"6%6+,%&$#%.+2);%2*%+$%"+4%2*%4+$F-L%*"#)%6+,%3&6%(#%4&-*2);%6+,$%*23#8
!"2-%1&1#$%/+5,-#-%+)%*"#%$+7#%+/%#.,5&*2+)&7%-*$&*#;2#-%2)%231$+'2);%*"#%1$&5*25#%+/%5+33,)2*6%5,$$#)52#-8
On the money:Getting the message outJohn Rogers
Value for People
International Journal of Community Currency Research
IJCCR
Abstract
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
www.ijccr.net
!"#$%&'()*+$%&')',-$#($./00')'#1'$2'%3''#$%&'()*$4#.$5)41%/1'6$/#$5)41%/1'+$%&')'$/-78
J+;2%O#$$&L%O&-#(&77%B+&5"
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International Journal of Community Currency Research 15 (2011) D 11-16 12
Why Educate about Community Currencies?
!"#$#%&$#%'#(#$&)%$#&'*+'%,*$%#-./&01+2%3#*3)#%&4*.0%/*55.+106%/.$$#+/1#'7
Practical reasons
8,%9#%9&+0%0*%153$*(#%0"#%'.'0&1+&41)106%$&0#%*,%/*55.+106%/.$$#+/1#':%9#%+##-%0*%$&1'#%';1))%)#(#)'%4*0"%,*$%-#'12+1+2%&+-%3&$01/13&01+2%1+%0"#5<%80%1'%'01))%0**%/*55*+%,*$%3#*3)#%910"%)100)#%;+*9)#-2#%0*%)&.+/"%+#9%/.$$#+/1#':%$1-1+2%&%'"*$0%9&(#%*,%#+0".'1&'5%&+-%1-#&)1'5:%4.0%)&0#$%9&0/"1+2%0"#1$%'6'0#5%-1'&33#&$%&'%0"#%4122#$%9&(#'%*,%)*+2=0#$5%5&1+0#+&+/#%4$#&;%*(#$%0"#5<%>#*3)#%+##-%';1))'%&+-%1+,*$5&01*+%,*$%-#'12+%&+-%*$2&+1'&01*+<
Economic reasons
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
Social reasons
B*55.+106%/.$$#+/1#'%"#)3%/*55.+101#'%'.,,#$1+2%,$*5%0"#%@#C0#$+&)101#'A%*,%0"#%5&$;#0%#/*+*567%/*55.+106%4$#&;-*9+D%/$15#D%-$.2'D%1'*)&01*+%#0/<%!"#6%/$#&0#%&%;1+-%*,%155.+#%'6'0#5%0*%3$*0#/0%0"#%/*55.+106%1+%"&$-%015#'<%>#*3)#%+##-%0*%#C3)*$#%0"#%'*/1&)%#,,#/0'%*,%/*55.+106%/.$$#+/1#'<
Ecological reasons
E%5*+#0&$6%5*+*/.)0.$#%-*51+&0#-%46%&%"&+-,.)%*,%3*9#$,.)%+&01*+&)%/.$$#+/1#'%"&'%0"#%'&5#%#,,#/0'%&'%5*+*=/$*331+2%1+%&%)&+-'/&3#%F%#C0$#5#%'3#/1&)1'&01*+%&+-%#,?1/1#+/6%&0%0"#%3$1/#%*,%$#'1)1#+/#%1+%0"#%,&/#%*,%/"&))#+2#'<%G*+#0&$6%-1(#$'106%51$$*$'%#/*)*21/&)%
-1(#$'1067%0"#%$1/"#$%0"#%41*=-1(#$'106:%0"#%5*$#%$#'1)1#+0%0"#%9"*)#%'6'0#5<%!"1'%5*+#0&$6%-1(#$'106%&)'*%'.33*$0'%$#&)%#/*)*21/&)%-1(#$'106%46%#+&4)1+2%)*/&)%/*55.+101#'%0*%5*41)1'#%3#*3)#%0*%-*%#''#+01&)%/*+'#$(&01*+%9*$;%&+-%5&1+0&1+%#+(1$*+5#+0&)%3$*H#/0'<%>#*3)#%+##-%0*%2$&'3%0"#%#/*)*21/&)%4#+#?10'%*,%/*55.+106%/.$$#+/1#'<
Political reasons
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
Psychological reasons
>&$01/13&+0'%*,0#+%/*55#+0%*+%0"#%-1,,#$#+0%@,##)A%*,%3&$01/13&01*+%1+%&%)*/&))6%*9+#-%&+-%5&+&2#-:%1+0#$#'0=,$##%5*+#6%'6'0#5<%K-./&01+2%&4*.0%/*55.+106%/.$$#+/1#'%"#)3'%.'%0*%'##%"*9%0"#'#%5#/"&+1'5'%/&+%3)&6%&%$*)#%1+%*.$%3#$'*+&)%&+-%/*55.+106%#/*+*51#'%*,%#C/"&+2#<
Audiences and Messages
!"#%;#6%&.-1#+/#'%,*$%5#''&2#'%&4*.0%/*55.+106%/.$$#+/1#'%&$#7
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L O.+-#$'%&+-%3.4)1/%-#/1'1*+%5&;#$'<!"#%'3#/1?1/%+##-'%*,%#&/"%*,%0"#'#%2$*.3'%1'%-1'/.''#-%4#)*9<%
Actual and Potential Participants
J#%+##-%0*%-#5*+'0$&0#%0"#%4#+#?10'%*,%/*55.+106%/.$$#+/1#'%0*%3*0#+01&)%3&$01/13&+0'%&+-%'.33*$0#$'<%E0%0"#%'&5#%015#%9#%+##-%0*%"12")12"0%0"#%3$&/01/&)%/"&))#+2#'%*,%-#'12+1+2:%
IJC
CR
Get
ting
the
mes
sage
out
“If we want to improve the sustainability rate of community currencies, we need to raise skill levels both for designing and participating in them”
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International Journal of Community Currency Research 15 (2011) D 11-16 13
IJC
CR
Get
ting
the
mes
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out !"#$%&'&%#($%)($)*&%&'+"$+&%#(+,-*(+!()-'&#%-"'($%)(
*$%$#-"'(!.('/'+-*'01$"+&2&3$%+'(%--)(-%!4#,(5%!67-)#-(+!(8-($87-(+!(+$5-(3$"+($%)(&%+-#"$+-(4'-(!.(+,-(24""-%2/(&%+!(+,-&"()$&7/(7&9-'0(:+(',!47)(8-(-$'/(+!(4'-($%)(&+(',!47)(,-73(+,-*(+!('!79-(+,-&"(3"!87-*';(*--+(+,-&"(%--)'($%)($2,&-9-(+,-&"(#!$7'0(!"#$%!&'()<(#!!)(6-8'&+-($%)(=7/-"'>(*!+&9$+&%#(*-''$#-'(&%('&*37-(7$%#4$#->(%-6(*-*8-"(-9-%+'>("-#47$"('!2&$7(-9-%+'>('&*37-(+"$&%&%#>('3-2&$7(!..-"'0!"#$%*&+)%,&$%!&'(-(&)-!7!#/(?(3"-$2,&%#>(+-2,%&2$7(!"($2$)-*&2(7$%#4$#-0
Designers of new systems
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
!"#$%*&+)%,&$%!&'(-(&)-!7!#/(?(3"-$2,&%#>(*4*8!CD4*8!($%)(*/'+&=&2$+&!%0
Organisers and Administrators
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
Funders and public decision makers
F4%)-"'($%)(3487&2()-2&'&!%(*$5-"'(%--)(+!(5%!6(6,$+(2!**4%&+/(24""-%2&-'($"-;(6,$+('3-2&=&2(8-%-=&+'(+,-/(8"&%#(+!(6,&2,(#"!43'($%)(6,$+(-9&)-%2-(+,-"-(&'(.!"(-..-2+&9-%-''0
!"#$%!&'()-(8!+,(G4$%+&+$+&9-(-9&)-%2-(H'+$+&'+&2'(.!"(3$"+&2&3$+&!%($%)(+"$)-'I($%)(G4$7&+$+&9-(-9&)-%2-(H"-$7('+!"&-'($8!4+(8-%-=&+'(!.(3$"+&2&3$+&!%I>(3-"'!%$7("-7$+&!%',&3'(6&+,(.4%)-"'($%)(2&9&7('-"9$%+'>('-%)&%#(%-6'7-++-"'($%)(8477-+&%'0!"#$%*&+)%,&$%!&'(<(&)-!7!#/(?(3"-$2,&%#>(+-2,%&2$7(!"($2$)-*&2(7$%#4$#-0
Delivery Mechanisms
J-(%--)(+!()-9-7!3(+$"#-+-)(-)42$+&!%$7('+"$+-#&-'(+!('4&+(+,-(&%.!"*$+&!%($%)('5&77'(%--)'(!.(-$2,(#"!430K!*-(6&77(3"-.-"(+!("-$)($2$)-*&2(3$3-"'($%$7/'&%#(+,-()-+$&7'(!.(2!**4%&+/(24""-%2&-'>(!+,-"'(6&77(6$%+(,$")(-9&)-%2-(!.(8-%-=&+'(8-.!"-(+,-/(8$25(+,-(&)-$>(!+,-"'(6&77(3"-.-"(+!("-$)($"+&27-'(&%(+,-(7!2$7(%-6'3$3-"(!"($(%$+&!%$7(*$#$L&%->(!+,-"'(6&77(D4'+(6$%+(+!(+"/(&+(!4+($%)('--(6,$+(,$33-%'>(!+,-"'(*$/(6$%+(+!(-%#$#-(&%(+"$&%&%#0
Conclusions
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Educational strategy or tool
Audiences Aims Delivery Agents
Books & Articles Decision makers
General public
Persuasion
Information
Various authors:Bernard Lietaer: http://www.lietaer.com/Margrit Kennedy: http://www.margritkennedy.de/Thomas Greco: http://www.reinventingmoney.com/Richard Douthwaite:http://www.postcarbon.org/person/36218-richard-douthwaite
Magazine General public
Designers
Information
Share stories
Community Currency Magazinehttp://www.community currenciesmag.net/dp/
Design Guides Designers
Administrators
Specialist information
Community Currency Guideby Bernard Lietaer and Gwendolyn Hallsmithhttp://www.global-community.org/gc/newsfiles/25/Community%20Currency%20Guide.pdf
The Lewes Pound How To Guide by Oliver Dudok van Heel:http://www.thelewespound.org/assets/docs/Lewes_Pound_How_To_Guide.pdf
Research summaries
Researchers
Decision makers
Policy analysts
Analysis
Specialist information
International Journal of Community Currencies Researchhttp://www.ijccr.net
Bibliography of Community Currencies Researchhttp://www.community currencies-literature.de/1.introduction/
Community Currencies Research Grouphttp://www.complementarycurrency.org/community currenciesResearch.html
International Journal of Community Currency Research 15 (2011) D 11-16 14
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CR
Get
ting
the
mes
sage
out
Table 1: Educational Strategies and Resources for Complementary Currencies (continued overleaf)
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Educational strategy or tool
Audiences Aims Delivery Agents
General advice & information
General public
Information Complementary Currency Resource Centerhttp://www.complementarycurrency.org/
Time Banks USAhttp://www.timebanks.org/
Time Banks UKhttp://www.timebanking.org/
Time Banking Waleshttp://www.timebankingwales.org.uk/
LETSystems Home Pagehttp://www.gmlets.u-net.com/
LETS in Australiahttp://www.lets.org.au/
LETSLink UKhttp://www.letslinkuk.net/
LETS Link-Uphttp://www.lets-linkup.com/
Videos General public
Persuasion The Money Fixhttp://themoneyfix.org/
La Double Face de la Monnaiehttp://mareauxcanards.ouvaton.org/films.php?choix_film=25
Search for “community currencies” and “complementary currencies” on You Tube: http://www.youtube.com
Videos about Time Banking:http://www.timebanks.org/videos.htmhttp://www.timebanking.org/
Lyttleton Time Bank, New Zealand:http://www.lyttelton.net.nz/timebank
Oliver Dudok van Heel talks about Lewes Poundhttp://transitionculture.org/2010/01/22/oliver-dudok-van-heel-on-local-currencies-transition-and-the-lewes-pound/
International Journal of Community Currency Research 15 (2011) D 11-16 15
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CR
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ting
the
mes
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out
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Educational strategy or tool
Audiences Aims Delivery Agents
Conferences Designers
Participants
Dissemination
Networking
Various organisations e.g.USA, 2004http://www.smallisbeautiful.org/local_currencies/2004_conference_report.html
Germany, 2004http://www.newmediaexplorer.org/sepp/COMMUNITY CURRENCIESurrencies_in_Europe2_2004.pdf
New Zealand, 2009http://www.transitiontowns.org.nz/node/1470
Annual Time Banking congresses c/oTimebanks USA and Timebanks UK
Webinars(internet seminars)
Enquirers
Designers
Training
Specialist information
Value for Peoplehttp://valueforpeople.co.uk/letsmakemoney
Internet discussion groups
Enquirers
Participants
Designers
Researchers
Advocates!
Share knowledge, experiments, updates and inquiries
CC Open Collective is a moderated online forum (skype chat): contact Les Squires (skype name: LSquiresSkype)
Time Banks Forumhttp://forums.timebanks.org/
Training Enquirers
Participants
Designers
Training
Specialist information
Time Banks USAhttp://www.timebanks.org/
Time Banks UKhttp://www.timebanking.org/
Value for Peoplehttp://valueforpeople.co.uk/training
International Journal of Community Currency Research 15 (2011) D 11-16 16
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ting
the
mes
sage
out
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International Journal of Community Currency Research 15 (2011) D 17-21 17
Introduction
!"#$%&%'()#*)(+%$#,"#-%'.("/#+0)01'21)#$),*$#02#*(*%'#'%*)(+%#34%#51'0#($#(#.%6,1.#02#%7+4("8%9#:4%$%#1"02;,+,()#3%"6%'$#('%#+())%6#<..%')%+43()%'=#>?'8%'@)?3%=#A'%/%+B%'=#5)@3()%'=#-C,""%'=#D(&%)@)?3%=#E(""F($=#G("6.('B=#H(480)6=#IJ)K%'=#L0)("6=#M3%'"3()%'=#:(1@%'N'("B%"#0'#O$+40*(13()%'9#F%#('%#3()B,"8#(@013#-%'.("#L%8,08%)6=#(#*4%"0.%"0"#C4,+4#0++1''%6#('01"6#PQQR#("6#$*'%(6#'(*,6)/#())#0&%'#-%'.("/9#!3#(**%('$#"03#0")/#C,34#6,22%'%"3#"(.%$#@13#()$0#,"#&(',01$#20'.$9#
:4%#('3,+)%#,"3'061+%$#34,$#$*%+,()#+0.*)%.%"3('/#+1''%"+/9#!3#6%$+',@%$#@',%;)/#S#("6#2'0.#(#$0+,0)08,+()#*0,"3#02#&,%C#S#C4(3#,3#,$=#40C#,3#4($#0',8,"(3%6=#34%#(+31()#$3(31$#T10#("6#*0$$,@)%#2131'%#6%&%)0*.%"3$9#!3#,$#@($%6#0"#./#U#/%('#%34"08'(*4,+#'%$%('+4#C4,+4#C($#60"%#,"#34%#+0"3%73#02#(#$0+,0)08,+()#6,$$%'3(3,0"9#N0'#34,$#('3,+)%#0"%#02#./#'%$1)3$#,$#*('3,+1)('#,.*0'3("3V#L%8,08%)6#,$#(#*4%"0.%"0"#C4,+4#0',8,"(3%6#,"#34%#21$,"8#02#6,22%'%"3#.0&%.%"3$=#(#.0"%/W'%20'.W0',%"3%6=#("#%$03%',+#("6#$%&%'()#'%8,0"(),K(3,0"W0',%"3%69#:4%$%#.0&%.%"3$#20'.#L%8,08%)6#'%8('6,"8#,3$#+0"$3'1+3,0"$#("6#
,3$#0@X%+3,&%$=#,3$#0'8(",K(3,0"()=#;,"("+,()#("6#*%'$0""%)#'%$01'+%$9#
What is Regiogeld?
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
Complementary Currencies in Germany:The Regiogeld System
Christian Thiel
University of Augsberg, Germany
International Journal of Community Currency Research
IJCCR
Abstract
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
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 17-21 18
!"#$%&'$()&%*+,+&'-./#)+.%#0&,1)10#$1%1+,2&%*+$+&#$+&314&/1''+$+.5+,&1.&%*+&5(.,%$-5%1(.&('&%*+�)(,%&67%18+&$+41(.#0&5-$$+.51+,&1.&9+$)#.:;&<.+&('&%*+&)(,%&1)"($%#.%&=#./&#)(.4&%*+&)#>+$,&)(,%&5(.%$(8+$,1#0?&5(.5+$.,&%*+&@-+,%1(.&('&8#0-+A&,()+&B+41(4+0/+$&#$+&3#5>+/&3:&C-$(,2&(%*+$&#$+&3#5>+/&3:&4((/,&#./&,+$815+,;&
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�&R&1%&1,&5*#$1%#30+;&
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
How did Regiogeld originate?
B+41(4+0/&1,&3#,+/&(.&%*+&1/+#,&('&%*+&9+$)#.E!$4+.%1.+&+5(.()1,%&[1081(&9+,+00&=O\]^EO_67?;&U+&"$("(,+/&/+)-$$#4+&#,&#&)+%*(/&('&1.5$+#,1.4&3(%*&%*+&8+0(51%:&('&)(.+:&#./&(8+$#00&+5(.()15%181%:;&U1,&L$+14+0/&='$++&)(.+:?&,*(-0/&$-,%&#./&$(%&01>+�&%*+&4((/,&#./&%*+$+3:&3+&3+%%+$&#./&)($+&+'T151+.%&)(.+:&=9+,+00&O_`_A&O6?;&9+,+00&#./&*1,&'(00(H+$,&"-$,-+/&=H1%*(-%&,-55+,,?&#&"(01%15#0&)(.+:&$+'($)&#./�,(&1)"0+)+.%+/&,)#00&,5#0+&0(5#0&)(.+:&+M"+$1)+.%,&=a1+/+$+44+$&O__b?;&
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IJC
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International Journal of Community Currency Research 15 (2011) D 17-21 19
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International Journal of Community Currency Research 15 (2011) D 17-21 20
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It seems that despite extensive marketing, it is very hard for Regiogeld to achieve acceptance and therefore a significant penetration of the regional markets
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International Journal of Community Currency Research 15 (2011) D 17-21 21
IJC
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m Endnotes
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"!89$!+&''&(-.1!$C/5%!.#:6$*,!/*$!6/,$0!&.!%9$!/,5$*%/-./6'$!)*&B$5%,!<D!E!@FAG!%&%/'!/:&#.%!&+!;$1-&1$'0!-.!5-*5#'/%-&.!+*&:!/''!)*&B$5%,!$H#/%$,!IFFJK?L!M#*&,N!/*-%9:$%-5!:$/.!-,!OPJF?L!M#*&,!/.0!:$0-/.!-,!6$%($$.!@@J???!/.0!@>J???!M#*&,7!Q%R,!.&%!$/,S!%&!$,%-:/%$!9&(!:#59!%#*.&3$*!-,!5*$/%$0!6$5/#,$!-%!-,!,#))&,$0!%9/%!;$1-&1$'0!5-*5#'/%$,!(-%9!/!9-19$*!3$'&5-%S!%9/.!%9$!M#*&!<T$''$*-!>??UG!LOA7!89$!V9-$:1/#$*!*$)&*%,!%&!5*$/%$!/!S$/*'S!%#*.&3$*!&+!O!W-''-&.!M#*&,!(-%9!-%,!K??J???!M#*&,!-.!5-*5#'/%-&.!<V9-$:1/#$*!>?@?A7#!!MC/5%!.#:6$*,!<D!E!>LA!/*$G!)/*%-5-)/%-.1!6#,-.$,,$,!*/.1$!+*&:!@L!%&!KFON!/*-%9:$%-5!:$/.!-,!@??!/.0!:$0-/.!-,!L>7!>?!)*&B$5%,!9/3$!'$,,!%9$.!@??!)/*%-5-)/%-.1!6#,-.$,,$,J!&.'S!O!9/3$!:&*$!%9$.!>??7
References
X/*%,59J!TY.%$*!<@UUOA!"-$!DZ[\X$($1#.1!]-'3-&!T$,$'',7!T$,59-59%'-59$*!T*#.0*-^!@FU@!\!@UU>_UPJ!<T/#`$J!aY%B$.6#*1A
X-5`$':/..J!b..$%%$!<>??UA!c'$-.1$'07!W&.$%d*$!;$1-&./'-,-$*#.1!0#*59!;$1-&1$'0!/',!Z$*`2$#1!-:!;$1-&./':/./1$:$.%7!e.)#6'-,9$0!0-)'&:/!%9$,-,J!e.-3$*,-%S!&+!8*-$*J!"$)/*%:$.%!&+!1$&1*/)9S!
X*/.0J!c/*'\Z$*.$*!<@UUFA!fg#:/.-,%-,59$*!W-%%$'`'/,,$\;/0-`/'-,:#,R7!Q.!g$'':/..J!c/-\e($!/.0!;##0!c&&):/.,!<M07A!h/*/0-1:$.!0$*!X$($1#.1,+&*,59#.17!Z$,%0$#%,59$*!=$*'/1G![)'/0$.N!))7!PP\K?
V9-$:1/#$*!<>?@?AJ!3-$($0!b#1#,%!@I!>?@?J
!9%%)G__(((759-$:1/#$*7-.+&_#)'&/0,_:$0-/_V9-$:1/#$*\]%/%-,%-`i?@7)0+!
V*$#%2J!g$':#%!<@UUPA!"/,!T$'0\]S.0*&:7!Z$1$!2#!$-.$*!`*-,$.+*$-$.!W/*`%(-*%,59/+%J!<=$*'/1!W/-.2J!b/59$.A
j-,9$*J!Q*3-.1!<@UPPAG!]%/:)!]5*-)J!<b0$')9-!V&:)/.SJ!D$(!k&*`A
T$''$*-J!V9*-,%-/.!<>??UA!fV9-$:1/#$*!;$1-&:&.$SG!89$&*S!/.0!h*/5%-5$!&+!/!a&5/'!V#**$.5SR7!Q.%$*./%-&./'!l&#*./'!&+!V&::#.-%S!V#**$.5S!;$,$/*597!=&'!@PJ!))7L@\IK
T$,$''J!]-'3-&!<@UOU!m@U@LnA!"-$!./%Y*'-59$!Z-*%,59/+%,&*0.#.1!0#*59!j*$-'/.0!#.0!j*$-1$'0J!<;#0&'+!o-%2:/..!=$*'/1J!a/#+!6$-!DY*.6$*1A
c$..$0SJ!W/*1*-%!<@UU@A!T$'0!&9.$!o-.,$.!#.0!Q.4'/%-&.J!<T&'0:/..J!WY.59$.A!
a-$%/$*J!X$*./*0!<>??>A!"/,!T$'0!0$*!o#`#.+%G!p6$*!0-$!2$*,%q*$*-,59$!Z-*`#.1!0$,!$C-,%-$*$.0$.!T$'0,S,%$:,!#.0!b'%$*./%-3$.!9-$*2#J!<;-$:/..!=$*'/1J!WY.59$.A
D-$0$*$11$*J!T$*9/*0!<@UUIA!"/,!j*$-1$'0\]S.0*&:G!jY*!#.0!Z-0$*!$-.!/'%$*./%-3$,!T$'0,S,%$:J!<=$*'/1!+Y*!M%9-`!#.0!T$,$'',59/+%J!Z-$.A
[.`$.J!Z$*.$*!<@UUIA!W&0$''3$*,#59$!:-%!,&2-/')4'-59%-1$:!X&0$.!#.0!T$'0J!<=/*$'J!['0$.6#*1A
;$1-&1$'0!$7=7!<>?@?AJ!3-$($0!b#1#,%!@I!>?@?J!9%%)G__(((7*$1-&1$'070$
]59*&$0$*J!;&'+!<>??LA!fV&::#.-%S!MC59/.1$!/.0!8*/0-.1!]S,%$:,!-.!T$*:/.SR7!Q.%$*./%-&./'!l&#*./'!&+!V&::#.-%S!V#**$.5S!;$,$/*597!=&'!@?J!))7!>O\O>
]%$-.$*J!;#0&'+!<@U@UA!"-$!c$*.)#.`%$!0$*!,&2-/'$.!j*/1$!-.!0$.!a$6$.,.&%($.0-1`$-%$.!0$*!T$1$.(/*%!#.0!o#`#.+%J!<;#0&'+!]%$-.$*!=$*'/1J!"&*./59A
]%$-.$*J!;#0&'+!<@U>>A!D/%-&./'q`&.&:-,59$*!c#*,J!<9%%)G__(((70*$-1'-$0$*#.170$_0&(.'&/0_PO?7)0+!m?L7?O7>??UnA
=&'`:/..J!c*-,%$*!<>??FA!;$1-&./'!\!#.0!%*&%20$:!1'&6/'7!]&'-0/*-,59$!r`&.&:-$!-:!])/..#.1,+$'0!2(-,59$.!;$1-&./'-%d%!#.0!T'&6/'-%d%7!M-.$!$C)'&*/%-3$!]%#0-$!2#!;$1-&./'(d9*#.1$.J!<a-%!=$*'/1J!WY.,%$*A
Z$*.$*J!g/.,\l&/59-:!<@UFUA!T$,59-59%$!0$*!j*$-(-*%,59/+%,6$($1#.1J!<Z/C:/..J!D$(!k&*`A
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International Journal of Community Currency Research 15 (2011) D 22-26 22
Introduction
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
A brief history of CCs in Japan up to the “boom”
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
L304"227%X4*)"5%95##4%A"'%$.0%-*))%-*./%!"#"$)')%7)$%(40%5$%/.'0%3"')'%4'),%0&)%.-Y535"2%34**)$37%0.%("3F%0&5'%'7'0)/C%%Z$)%07#53"2%3"')%3&"*+)'%0&)%()$)Y535"*7%[==%7)$%;\W]%[C[Q?<%#)*%&.4*%0.%#"7%0&)%3.$0*5(40.*%><=%7)$%;\W]%
What have Complementary Currencies in Japan really achieved?Revealing the hidden intentions of different initiatives
Yasuyuki Hirota
http://www.olccip.net
International Journal of Community Currency Research
IJCCR
Abstract
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
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 22-26 23
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
G7.5.&3.5.&467.5&II&9(969'69?.<&379D7&7')&E..(&<.6&@;&'=5.')-&E.845.&*JJJF&<@D7&'<&G9:.&K4=='5&L.6345B&H';'(&379D7&3'<&'D69?.&E.63..(&*JJ!&
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`5>=F&A@<659'F&'&G'@<D759(>&'6&['==.F&Y.5:'(-F&a67'D'&[4@5<&'6&a67'D'F&LbF&0(96.)&16'6.<&'()&67.&_acS'(BF&67.&1396d.5='()F&9(&'))9694(&64&9(6.5?9.3<&64&W'5>596&\.((.)-&'()&S.5('5)&P9.6'.5"G79<&;54>5'::.&>'?.&59<.&64&67.&VE44:Z&48&II<&9(&H';'("&&A&(@:E.5&48&>5'<<X5446&>54@;<&<743.)&679<&?9).4&64&6.'D7&:45.&;.4;=.&67.&9:;456'(D.&64&@<.&II<&'()&'D6@'==-&)4d.(<&48&PQG1&'()&467.5&<456<&48&II<&3.5.&E45(&/E'E-XE44:.5X>.(.5'694(&II%&'<&;.4;=.&3.5.&9(<;95.)&E-&679<&)4D@:.(6'5-"&&A&E44B&696=.)&'<&VQ().X(4&b@9>4(Z&/L[\&N@E=9<79(>%&3'<&;@E=9<7.)&9(&+,,,&'()&9<&<69==&5.8.55.)&64&'<&4(.&
48&67.&6.e6E44B<&4(&II<&9(&67.&H';'(.<.&='(>@'>."&&&G7.&II&:4?.:.(6&5.'D7.)&96<&D=9:'e&9(&H';'(&9(&+,,$&'()&<9(D.&67.(&<6'56.)&64&).D=9(.&>5')@'==-&)@.&64&67.&5.'<4(<&64&E.&:.(694(.)&='6.5"&
Some Japanese CCs during and just after the “boom”
Toshiharu Katô’s “Ecomoney”: a CC promoted by a MITI bureaucrat
G7.&VQD4:4(.-Z&7'<&:').&<9>(9f9D'(6&8446;59(6<&4(&67.&H';'(.<.&II&<D.(.&E.D'@<.&96&3'<&).<9>(.)F&;54;4<.)&'()&;54:46.)&E-&G4<797'5@&\'6OF&67.(&)95.D645&48&67.&1.5?9D.&a()@<659.<&K9?9<94(&'6&67.&W9(9<65-&48&G5').&'()&a()@<65-&/WaGa%!F&'&:9(9<65-&9(6.5('694('==-&'DB(43=.)>.)&E-&96<&<B9==&845&.D4(4:9D&;='((9(>&<@D7&'<&H47(<4(&/*Jg+%"&&AD6@'==-&79<&9(?4=?.:.(6&3967&II&E.>'(&9(&*JJgF&.?.(&.'5=9.5&67'(&VQ().T<&W4(.-XY4XA54@()FZ&37.(&7.&;@E=9<7.)&79<&f95<6&E44B&696=.)&'<&QD4:4(.-F&).f9(.<&96&'<&V'&:4(.-&9(&67.&+*<6&D.(6@5-&379D7&9<&'(&9(6.5:.)9'5-&48&'&?'59.6-&48&<486&9(845:'694(F&<@D7&'<&67.&.(?954(:.(6F&D'5.6'B9(>F&3.=8'5.F&D4::@(96-&'()&D@=6@5.&/<9D%Z&/\'64&/*JJg%%F&'=674@>7&).6'9=<&3.5.&(46&D=.'5"&&A6&679<&<6'>.&7.&3'<&.e;=459(>&67.&D7'(D.&64&'==43&.eD7'(>.<&48&D4::.5D9'=&>44)<&'()&<.5?9D.<F&'DD.(6@'69(>&96<&54=.&'<&'&<69:@=@<&845&67.&=4D'=&;54)@D694(&'()&D4(<@:;694(F&'=674@>7&79<&'66'D7:.(6&64&:@(9D9;'=969.<&'<&<;7.5.<&845&II&3'<&'=5.')-&f95:F&?.5-&)988.5.(6&854:&c.>94&9(969'69?.<&9(&Y.5:'(-F&845&9(<6'(D."&&Qe':;=.<&9(&379D7&79<&VQD4:4(.-Z&34@=)&E.&@<.)&'5.&>9?.(&'<&84==43<h
i !"#$%&'(#)*#$+%#%",-&)"'%"$.&5.D-D=9(>F&;9DB9(>&@;&>'5E'>.&4(&67.&59?.5F&'6&67.&;'5B&'()&467.5&;@E=9D&8'D9=969.<&45&;='(69(>&65..<"
i !"#$%&'(#)*#()/-01#2)&3.&D'5.6'B9(>&845&67.&.=).5=-F&.<;.D9'==-&845&674<.&374&<@88.5&854:&67.&<4D9'=&.eD=@<94(&E-&?9<969(>&67.:&'()&=9<6.(9(>&64&67.95&6'=B
i !"#$%&'(#)*#%45/0$-)"#0"4#/51$5&%.&:'9(6.('(D.&48&=4D'=&84=B=45.F&=.<<4(<&4(&NI
&[9<&).6.5:9('694(&64&@<.&QD4:4(.-&.eD=@<9?.=-&845&<@D7&'D69?969.<&3'<&5.9(845D.)&9(&+,,*&37.(&7.&).D='5.)&'<&84==43<&9(&79<&E44Bh!!"#$!%&'!&$!()*!'*+&(,-.$),/!0*(1**.!()*!23-4-.*5!&.6!()*!4-.*(&'5!*3-.-45!,$!3-.3*'.*67!1*!$)-8+6!'*%'&,.!%'-4!/8'3)&$,.9!9--6$!&.6:-'!$*';,3*$!6,'*3(+5!&(!()*!4&'<*(!,.!23-4-.*5=!!>)*!8.+,4,(*6!3-..*3(,-.!-%!()*!23-4-.*5!?,*+6!@;-+8.(&'5!*3-.-45A!1,()!()*!
IJC
CR
CC
s in
Japa
n
The currency movement’s boom in Japan was triggered by the success of a TV documentary called “Ende’s Money-Go-Around”, originally broadcast in 1999
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International Journal of Community Currency Research 15 (2011) D 22-26 24
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WATsystems6: total abolition of central authority
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Recent currency schemes to emerge
Revival of old coins as local currency at Kan’onji, Kagawa
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Figure 1: Example of a typical WATSystem note (front and reverse)
![Page 28: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/28.jpg)
International Journal of Community Currency Research 15 (2011) D 22-26 25
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0.33"#0'"-1
Back to the rice standard: another local currency at Toyota, Aichi
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3"7*35"5%*-%*%+"3"%+"*#-%(,%<3,+,("%()"%
?*3("3'#7%?"(&""#%/*?,.3%*(%()"%<3,;"0(%*#5%
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Conclusion
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)*6"%<.3-."5%5'44"3"#(%7,*/-%()*#%()"'3%
V"-("3#%0,.#("3<*3(-$%3"-./('#7%'#%*%3*#7"%,4%
5'44"3"#(%L%*#5%-,+"('+"-%?'W*33"%L%,?;"0('6"-%
*#5%0,#-"E."#0"-1%%
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Japanese promoters and practitioners have pursued different goals than their Western counterparts, resulting in a range of different - and sometimes bizarre - objectives and consequences.
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International Journal of Community Currency Research 15 (2011) D 22-26 26
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n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
Endnotes
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
References
!/4$&/$:'34"071+0&'PO\ZMQ'VRC?C'"$8',4+'!"#"$+&+'1)0"67+:W';,"$2/08'K$)5+0&),<'F0+&&:';,"$2/08>'
Y",]:'?/&4)4"09'PO\\ZQ'VS6/1/$+<'^'20/1',4+'()*'("$*',/'491"$+'&/6)+,<W(エコマネーG'ビッグバンから人間に優しい社会へ):'_)4/$'Y+)I")'`<]0/$&4":'?].<]Y",]:'?/&4)4"09:'PMNNOQ'V?4+'$+-'6+$,90<'/2'S6/1/$+<W(エコマネーの新世紀):'Y+)&]'&4/(]:'?].<]Y+$$+8<:'R"0*0),'"$8'U)+,"+0:'E+0$"08'A>:'PMNNaQ'Vb+*)/$"7-c409$*+$:V'b)+1"$$:'R9$)64
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International Journal of Community Currency Research 15 (2011) D 27-31 27
Introduction
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
The Athens Timebank
8.%&/$2%+,&-"#"$$%$&'(##%)'3&*)&1#%%'%&*+&"&8*0%&E")@&#()&<3&,.%&1#%%@&<#")'.&/A&,.%&J(#/-%")&K%,?/#@&/A&L/0%);M&?.*'.&*+&"&K/)41/9%#)0%),"$&H#5")*+",*/)&A/'(+*)5&/)&"++*+,*)5&?/0%)&?./&"#%&9*',*0+&/A&9*/$%)'%7&I/?%9%#;&,.%&8*0%&E")@&*+&")&"',*9*,3&,/,"$$3&
+%-"#",%2&A#/0&,.%&#%+,&K1H&"',*9*,*%+;&?.*'.&0%")+&,.",&")3/)%&'")&-"#,*'*-",%&")2&*,&*+&"&#($%&,.",&)/4/)%&?*$$&2*+'(++&?.%,.%#&")3&0%0<%#&."+&<%%)&'/))%',%2&,/&,.%&/,.%#&"',*9*,*%+&/A&,.%&K1H&NA/#&,.%&+"@%&/A&'/)O*2%),*"$*,3&<(,&"$+/&/A&,.%&*)'$(+*9%)%++&/A&,.%&+'.%0%:7&
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
P)&*0-/#,"),&A%",(#%&,.%&+'.%0%&"20*)*+,#",/#+&."9%&/-,%2&A/#&*+&,.",&/A&,.%&,*0%&'(##%)'3&%=-*#3&2",%;&%757&,.%&,*0%&./(#+&5"*)%2&%=-*#%&+*=&0/),.+&"A,%#&,.%3&."9%&<%%)&5"*)%2&<3&"&0%0<%#7&8.%&/#5")*+%#+&%=-%',&,.",&<3&+%,,*)5&")&%=-*#3&2",%;&,.%&,*0%&'(##%)'3&?*$$&'*#'($",%&%AO*'*%),$3&?*,.*)&,.%&+'.%0%;&*)+,%"2&/A&<%*)5&"''(0($",%2&<3&+/0%&0%0<%#+&?.*$%&
Alternative Exchange Systems in Contemporary Greece Irene Sotiropoulou
Department of Economics, University of Greece
International Journal of Community Currency Research
IJCCR
Abstract
8.*+&-"-%#&*+&"&<#*%A&#%-/#,&/A&+%9%#"$&+'.%0%+&,.",&%=*+,& ,/2"3;&F%-,%0<%#&QRMR;&*)&1#%%'%&")2&-%#0*,&,.%*#&0%0<%#+& ,/&-%#A/#0&,#")+"',*/)+&?*,./(,&")3&/AO*'*"$&'(##%)'37&8.%&#%-/#,& '/9%#+&-"#"$$%$& '(##%)'3& +'.%0%+;& %='.")5%& )%,?/#@+& ")2& +%9%#"$& #%$",%2& *)*,*",*9%+& ,.",& '/($2& <%&'."#"',%#*+%2&"+&"$,%#)",*9%&%='.")5%&/#&)/)40"*)+,#%"0&0/2%+&/A&%'/)/0*'&"',*9*,37&
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 27-31 28
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
5"&"#$&;/%%$0"&"+'$&HI$8"$'($%&JKLKM&"#$&>+'$&G-01&+)&%$)/'+0:&+")&!8$%-"+!06&2$)8+"$&"#$&B+0-0;+-,&8%!(,$')&"#$&8-%$0"&?@A&+)&3-;+0:&-02&2$)8+"$&"#$&3-;"&"#-"&"#$&>+'$&G-01&2-"-(-)$&0$$2)&8$%)!00$,&3!%&+")&;$0"%-,&'-0-:$'$0"4&>#$.&-,)!&!%:-0+)$&$2/;-"+!0-,&*!%1)#!8)6&*#$%$&8$!8,$&3%!'&5"#$0)&-02&!"#$%&@%$$1&;+"+$)&8-%"+;+8-"$6&+0&!%2$%&"!&,$-%0&'!%$&-(!/"&>+'$&G-01+0:4&
The Ovolos Currency in the cities of Patras and Thessaloniki
>#$&A7!,!)&8%!C$;"&)"-%"$2&+")&!%:-0+)+0:&+0&N-0/-%.&JKKO&-02&+"&+)&(-)$2&+0&D-"%-)&;+".&HP$)"=I!/"#&;!-)"&!3&"#$&;!/0"%.M&(/"&-,)!&%/0&+0&>#$))-,!0+1+&H)$;!02&'-C!%&;+".&+0&"#$&?!%"#&!3&@%$$;$M6&-)&*$,,4J&<")&'$'($%)&*$%$&-%!/02&QRKK&+0&N/,.&JKLK6&(/"&0!"&-,,&!3&"#$'&-%$&8-%"+;/,-%,.&-;"+7$6&-,"#!/:#&"#$&-;"+7$&'$'($%)#+8&+)&-"&,$-)"&2!/(,$&"#$&0/'($%&+0+"+-,,.&-00!/0;$2&!0&E!'8,$'$0"-%.&E/%%$0;+$)&2-"-(-)$4S&T!%$!7$%6&A7!,!)&+)&/)$2&(.&)$7$%-,&8$!8,$&*#!&2!&0!"&,+7$&!%&*!%1&+0&D-"%-)&-02&>#$))-,!0+1+6&(/"&"#$.&8%$3$%&"!&"%-0)-;"&*+"#&8-%-,,$,&
;/%%$0;.4&>#+)&#-)&;%$-"$2&-&8$;/,+-%&)+"/-"+!06&*#$%$&,!;-,+".&!3&"%-0)-;"+!0)&+)&0!"&,+01$2&0$;$))-%+,.&"!&"#$&U(-)$&;+"+$)V4&>#$&A7!,!)&!%:-0+)$%)&)$$&"#+)&-)&-0&-27-0"-:$6&*#+;#&*+,,&'-1$&A7!,!)&-0&!0,+0$&"$;#0!,!:.&8,-"3!%'&-7-+,-(,$&"!&-,,&8$!8,$&,+7+0:&+0&"#$&;!/0"%.6&$0-(,+0:&"#$'&"!&$F8$%+'$0"&/)+0:&8-%-,,$,&;/%%$0;.&*#+,$&"%-0)-;"+0:&,!;-,,.&0!&'-""$%&*#$%$&"#$.&,+7$4&
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`aM&#-)&($$0&;%$-"$2&&(-)$2&+0&D-"%-)&;+".&-02&0-'$2&UA7!,!)&b$)$-%;#&-02&c!;/'$0"-"+!0&E$0"$%&3!%&I!;+-,&E/%%$0;.V&*#+;#&+)&%$)8!0)+(,$&3!%&)/8$%7+)+!0&!3&"#$&);#$'$6&8%!7+2$)&"#$&'$'($%)&*+"#&2!;/'$0"-"+!0&-02&8$%3!%'&%$)$-%;#&-;"+7+"+$)4&>#$&'$'($%)&!3&"#$&!%:-0+)-"+!0&#-7$&(.&,-*&$Y/-,&%+:#")&-02&!(,+:-"+!0)&-02&"#$&!%:-0+)-"+!0&+)&"#$&U/'(%$,,-&!%:-0+)-"+!0V&3!%&"#$&$0"+%$&);#$'$4&>#$&(-)+;&+2$-&($#+02&A7!,!)&+)&"#-"&"#$&;,-))+;-,&H$4:4&)"-"$M&;/%%$0;+$)6&$)8$;+-,,.&-3"$%&"#$&+0"$%%/8"+!0&!3&$Y/+7-,$0;$&*+"#&:!,2&+0&LOdL6&;%$-"$&)/%=7-,/$)&"#-"&-%$&!/"&!3&;!0"%!,&(.&"#$&$;!0!'.&-02&0!0=%$)8!02+0:&"!&%$-,&$;!0!'.6&$4:4&%$-,&8%!2/;"+!04&E!0"%-%.&"!&"#-"6&"#$&)!;+-,&;/%%$0;.&*+,,&;+%;/,-"$&-02&($&;!0)/'$2&-)&+"&+)&8%!2/;$24&
5&)+:0+B+;-0"&3$-"/%$&!3&"#$&;/%%$0;.&+)&"#$&2$)+:0-"+!0&!3&+"e&"#$&'$'($%)&!3&A7!,!)&;-,,&+"&UI!;+-,&E/%%$0;.V4&>#$.&*-0"$26&B+%)"&"!&)#!*&"#$&)!;+-,&!%+$0"-"+!0&!3&"#$&$0"+%$&8%!C$;"&-02&)$;!02&"!&-7!+2&:+7+0:&-0.&3-,)$&+'8%$))+!0)&!3&,!;-,+)"&!%&)$;$))+!0+)"&+2$-)&H+3&"#$.&;-,,$2&+"&U,!;-,&;/%%$0;.VM&!%&!3&;!'8$"+0:&*+"#&$/%!&;/%%$0;.&H$4:&+3&"#$.&0-'$2&+"&UE!''/0+".&E/%%$0;.V&+"&'+:#"&($&;!03/)$2&*+"#&"#$&X/%!8$-0&E!''/0+".&;/%%$0;.M4&>#$&"+",$&U)!;+-,V&+)&'!%$&"#-0&-&*!%26&($;-/)$&"#$&8,-0&
IJC
CR
Exc
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The main idea of the Ovolos scheme is that the members can use the Ovolos currency (which is virtual, e.g. on the main computer system and on each member’s digital smart card) instead of euro currency for their transactions with members.
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International Journal of Community Currency Research 15 (2011) D 27-31 29
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The Local Alternative Unit of Volos city
42')/.#+$)P$,'-"+,!?')Q"!,)GRSTUVW)XYZ[[ZV\UVW)]SY^_Z)D)RX]H)@+()*.-7+$$6)<$+""'&),.)8')$+%"#2'&).")`%"')ab,2)KLaL)!"),2')#!,6).*)c.$.(=)."),2')0+(,)d'",-+$)#.+(,).*)e-''#';)42')Q"!,)!()&!3!,+$)."$6)+"&)@!$$)8')%('&)@!,2!"),2')*-+7'@.-:).*),2')01#2+"3')+"&)5.$!&+-!,6)f',@.-:)g)@2!#2)#.?'-(),2')'",!-')#.%",6).*)h+3"'(i+;)P,),2')7.7'",=),2')7'78'-(2!<)!()-+,2'-)$.@)8'#+%('),2'6)2+?')".,)<-.#''&'&)@!,2)'1,'"(!?')<%8$!#!,6)6',=)3!?'"),2+,),2')(#2'7')!()."),2')<-.#'(().*)-'(.$?!"3)('?'-+$)<-+#,!#+$)!((%'(;)
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The ‘Money Back System’5: A Hybrid or Sui Generis scheme in Crete and Dodecanese
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International Journal of Community Currency Research 15 (2011) D 27-31 30
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
The Exchange Networks
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The Free Exchange Bazaars and Free Networks
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International Journal of Community Currency Research 15 (2011) D 27-31 31
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Epilogue: Other Projects
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Acknowledgements
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Endnotes
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IJCCR
Exc
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International Journal of Community Currency Research 15 (2011) D 32-38 32
Introduction
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89=:>;!T.&.#%*#$0/$.&#(&-%$*#$&.#*A3$1&,/5$%./B/$,&*+,&%$./3/$+#&3(-*3&$-(+('/$.&.)(43,&A$&$C*'/+$,&"%('&*&A%(*,$%&.4.#*/+*A3$&3(-*3&$-(+('/-&,$5$3(2'$+#&-(+-$2#E&F+&#)/.&*%#/-3$1&#)$&*4#)(%&,($.&+(#&/+#$+,&#(&,/.-4..&/+>,$2#)&#)$&*22%(2%/*#$+$..&("&#)$&-(+-$2#1&+(%&/#.&%$23/-*#/(+&2(#$+#/*3E&&9)$&/+#$+#/(+1&/.&#(&0/5$&*&0$+$%*3&,$.-%/2#/5$&(5$%5/$@&("&89=:>;!&.#%*#$0/$.&*+,&'$#)(,(3(0/$.&/+&#)$&%$0/(+1&)(2$"43361&#(&0$+$%*#$&,$A*#$&*+,&$+%/-)&#)$&3$*%+/+0&2%(-$..E
The STRO-CA approach
89=:>;!&)*.&,$5$3(2$,&*+&/++(5*#/5$&.4.#*/+*A3$&3(-*3&$-(+('/-&,$5$3(2'$+#&*22%(*-)&#)*#&*/'.&#(&-%$*#$&.#%(+01&.#*A3$&*+,&,/5$%./B/$,&3(-*3&$-(+('/$.1&%$./3/$+#&#(&(4#./,$&.)(-I.&"%('&#)$&@(%3,&$-(+('6&*+,&/#.&03(A*3/H*#/(+&2%(-$..E&9)/.&*22%(*-)&/.&-(+.#*+#36&/'2%(5$,&A6&#)$(%$#/-*3&*+,&U/+>
Complementary Currencies for Sustainable Local Economies in CentralAmericaErik Brenes
PhD Candidate, Universita dellas Calabria / Regional Advisor Andean Region - STRO
[email protected] / [email protected]
International Journal of Community Currency Research
IJCCR
www.ijccr.net
Abstract
!"#$%&'(%$&#)*+&*&,$-*,$&("&%$.$*%-)/+01&/'23$'$+#/+0&*+,&.42$%5/./+0&-('23$'$+#*%6&
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International Journal of Community Currency Research 15 (2011) D 32-38 33
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International Journal of Community Currency Research 15 (2011) D 32-38 34
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aComplementary currency methods
The Commodity Backed Currency (CBC) methodology aims at substituting and/or complementing the outflow of national currency of an institution or enterprise with a flow of vouchers. The vouchers are backed by the institution/enterprise who accepts them as means of payment for its own sales (goods, services). This financial and commercial instrument used to be common in large agricultural farms like banana plantations of multinationals and coffee plantations in Central America. The methodology has been updated by STRO with:
- More diversified strategies of use of vouchers by the organization / enterprise, not only salary payroll but as well as purchase of production inputs, contracting of local services, loans to peasants, bonus system and others;
- The creation of local networks of commerce and small business who accept the vouchers. This improves the spending options of the vouchers and hence must raise the demand for vouchers and improve the time of local circulation;
- Offering a bonus system for users of vouchers which is financed by an expected rise in sales of the organization and reduction of financial costs due to the substitution of “expensive” working capital in national currency by vouchers (with almost no financial costs).
The Loan Backed Currency (LBC) methodology aims at stimulating local economic and social development of communities by rising their liquidity through the local circulation of vouchers, emitted through loans administrated by the communities or a third party like a microcredit organization. The loans can be paid back by the community by vouchers, national currency or eventually goods and services, depending on the methodology. Interest rates of loans in vouchers are lower then interest rates for loans in national currency since they do not have financial costs (interests over savings, cost of borrowing money, inflation or other opportunity costs). As such the methodology provides fresh liquidity to the community at a fair price. By creating a local network where the vouchers are accepted as a means of payment for the purchase of goods and services, the methodology incentives local “purchases” and improves the sales of the participants of the network. The methodology has been strengthened and updated by STRO with:
- Integration of loans in national currency with loans in local currency.
- Diversification of strategies for raising the demand for local currency.
- Setting up of a permanent system based on daily transactions and not only periodic local markets.
Finally, in some cases, these first two methods can be design further spread into the third method called C3 (Commercial Credit Circuit) where businesses, employees or persons in general have a virtual barter system through internet. Businesses in a C3 network use some of their internal liquidity to make transactions among them. This internal liquidity can be backed by cash or financial guarantees. In this way, financial guarantees (including credit insurance) become a sort of commercial liquidity opening the market penetration of the financial institutions.
Appropriate technologies
The focus is to stimulate circulation of local currency by developing local bio-energy (biodiesel, bio-ethanol, biogas) and/or ecohousing. Also, some strategic alliances exist with organizations specialized in organic agriculture. In all cases, the objective is to substitute “imported” products (i.e. from outside the region) for locally produced products, using as much as possible local resources. Preferable, the products are also locally consumed, to reduce transport and distribution costs. For further details on the subject, please see: www.gotaverde.org, www.ecocasas.org
Apreciando Lo nuestro (APLN)
This method is adapted from the Local Alchemy method of the New Economics Foundation (NEF). Starts with a workshop to raise awareness among local actors about the impact of their spending and investment behavior on the local economy. In Central America, some 5% of the participants, mostly (prospective) entrepreneurs continue in a coaching trajectory which bring their entrepreneurial project idea in practice which consequently will stimulate local currency circulation. The coaching has proven to be very effective with informal sector entrepreneurs (who are generally too small to qualify for mainstream business advisory services like credits).
Table 1: STRO-CA approaches to sustainable local economic development
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International Journal of Community Currency Research 15 (2011) D 32-38 35
Name of the project Country Year established Type of scheme Details
Suchitoto El Salvador 2007 LBC Wide network of local businesses accepting UDIS.
PuntoTransacciones El Salvador 2009 C3 Private enterprise, design and partially fund by STRO-CA. www.puntotransacciones.com
Gota Verde Honduras 2007 CBC Backed by biodiesel production.
Comal Honduras 2002 CBC No longer under STRO-CA supervision.
Coopesilencio Costa Rica 2007 CBC Backed by palm oil production.
Coopebrisas Costa Rica 2007 CBC Backed by dairy products.
Coopevictoria Costa Rica 2007 CBC Backed by Coffee, sugar and other businesses.
Cooperativa Sigchos Ecuador 2010 LBC Fund and supervised by Pachamama Foundation
Cooperativa Integral Ecuador 2010 LBC Fund and supervised by Pachamama Foundation
Cooperativa Coopera Ecuador 2010 LBC Fund and supervised by Pachamama Foundation
Red Compras Brazil 2005 C3 Design and supervised by STRO-office in Brasil (Instrodi). www.circuitocompras.com.br
C3-Uruguay Uruguay 2010 C3 National in scope, designed and executed by STRO-Uruguay office. www.c3uruguay.com.uy
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Table 2: STRO complementary currency projects in Latin America
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International Journal of Community Currency Research 15 (2011) D 32-38 36
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Image 1: Businesses in local community accepting Coopvictoria UDIS in September 2009
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International Journal of Community Currency Research 15 (2011) D 32-38 37
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Images 2 and 3:Coopevictoria’s UDIS note front and reverse
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International Journal of Community Currency Research 15 (2011) D 32-38 38
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References
!72$%26#):8)X)Y',#$-*()!8?PJJP@.)O<:S)6#,)$#'7N)&*(-,$'%(-)*(),/#)2#A#7*0"#(,)*1)O*&'7)<>&/'(6#):$'2%(6)S&/#"#-8)Z#,$%#A#)!0$%7)P[.)PJIJ)1$*"N)/,,0NFF-/+$'8-/+8'&8+5FIP\[F
]7'(&)^8)?PJJP@)C*$"#-)#,)Z',%*('7%,%#-)2+)O*&'7%-"#)T*(#,'%$#8)Z#,$%#A#)T'4)JP.)PJIJ)1$*"N)/,,0NFF%28#$+2%,8*$6F%2#$+2%,F
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9
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International Journal of Community Currency Research 15 (2011) D 39-46 39
Introduction
!"#$%&'#()'(#$*+,#($#-(./"#0&')/+(1#2,')'#.,')'#/$#(#3%.'"./(445#(6*"7(".#&()8'.1#(#4(+8#%9#.)("$(+./%"#.%%4#3)':'".$#&()8'.#';+,("<'1#6)/"<$#3(*3')/=(./%"#("7#.,*$#,/<,#/"+%&'#7/$3()/./'$#$*+,#($#/"#>)(=/4?#!"#@AAB1#(6%*.#@1CAA#+%&&*"/.5#+*))'"+/'$#2')'#.)5/"<#.%#(:%/7#.,/$#3()(7/<	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
T/"(4451#/.#2/44#(4$%#,/<,4/<,.#$%&'#%.,')#>)(=/4/("#$%+/%U.'+,"/+(4#/""%:(./%"$#/"#.')&#%9#+%&&*"/.5#+*))'"+5#$5$.'&$?#R,/$#)'$'()+,#$*<<'$.$#.,(.#(#9*.*)'#&*4./+*))'"+5#$%+/'.5#+%*47#6'#':%4:/"<1#':'"#/"#.,'#$%*.,')"#+%*".)/'$#OJ2("1#@AAPQ?
Banco Palmas: A Significant Example in Latin America
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
Community Currency Progress in Latin America:Evolution in Brazil of a Socio-Technical Innovation for Economic SustainabilityChristophe Place
HEC-Paris / Fundação Getulio Vargas São Paulo, Brazil
International Journal of Community Currency Research
IJCCR
Abstract
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
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 39-46 40
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International Journal of Community Currency Research 15 (2011) D 39-46 41
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“For the first time the Central Bank of Brazil recognised the existence of community banks and social currency and their importance as social technology that generates financial inclusion.”
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International Journal of Community Currency Research 15 (2011) D 39-46 42
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Cubo Card: musical community currency
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International Journal of Community Currency Research 15 (2011) D 39-46 43
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
Arassussa: water management against sustainable house barter
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
*+./)G*.00$00.)!$**+%!(6)./0")$0+4).0).)!"##$%&'()!$**+%!()3"*)'-+)+1!-.%2+)"3)/"!./)"*2.%&!).2*&!$/'$*./)>*"4$!'&"%)&%)"*4+*)'")2&5+)4&*+!'&"%0)3"*)-+./'-().%4)%.'$*./)>*"4$!'0)!"%0$#>'&"%)I7U7T6)H;;KL9
The Hub: currency creation as a community animation tool
?-+)A$8)V)ER")U.$/")&0)'-+)%.#+)"3)'-+)%+',"*=6).)>/.!+),-+*+)"%+)#++')>+">/+)3*"#)!&5&/6)>$8/&!).%4)>*&5.'+)"*2.%&W.'&"%0),-"),.%')'")!-.%2+)'-+)0"!&+'()3"*).)8+''+*),"*/49)G0)'-+)-+.*')"3)'-&0)0'*$!'$*+)&0)'-+)!"">+*.'&"%6)!"//.8"*.'&"%).%4)0-.*&%26)'-+)&4+.)"3).)!"##$%&'()!$**+%!()'")!"%%+!')'-+)#+#8+*0).>>+.*0)&%)H;;K).%4),&//)8+)&%'*"4$!+4)&%)H;:;)8()7+/0")E+=&2$!-&6)O.*&.%.)X&!"//+''&).%4)X.*Y.*.)?-.#&W9)Z%'&/)%",6)'-+)!"%!+>')&0)8.0+4)"%)5.*&"$0)0(0'+#0),&'-)4&33+*+%')!-.//+%2+0[).),++=/()8.*'+*)3.&*)8+',++%)#+#8+*06).)/"!./)!$**+%!()3"*)+1'+*%./)'*.%0.!'&"%),&'-)0>+!&./)4&0!"$%'6).)>+*#.%+%')0+*5&!+)+1!-.%2+)0(0'+#6).%4).%)+#+*2+%!()%")!-.*2+)#&!*"!*+4&')3$%4)$0+4)3"*)'-+)#+#8+*0)&%)/"!./)!$**+%!(6)%.'&"%./)!$**+%!(6)"*),"*=&%2)-"$*09)?-+)>$*>"0+)&0)'")!*+.'+).%)+!"%"#&!)!$/'$*+)"3).8$%4.%!+6),&'-).)>"00&8/+)!"//.8"*.'&"%)"3)'-+)M%0'&'$'")M%"5.#+%'+).%4)'-+)M%0'&'$'")D/"06)'-*"$2-).)0"!&./)%+',"*=),&'-).8"$')\;)>.*'&!&>.%'0)&%0&4+).%4)"$'0&4+)?-+)A$8)I?-+)A$86)H;:;L9
G0)!"##$%&'()!$**+%!()>+*#&'0)'")=++>)'-+)!*+.'+4),+./'-),&'-&%)'-+)!"##$%&'()8+!.$0+)&']0).)!/"0+4)#.*=+'6)'-+)#"%+'.*()&%!/$0&"%)"3).)!"##$%&'()-.0).)*+./)8&2)&#>.!')"%)-&0)4+5+/">#+%')'-*"$2-)+!"%"#&!)2*",'-9)X+5+*'-+/+006)'-+)+!"%"#&!)0(0'+#)&0)0'&//)8.0+4)"%)'-+)0.#+),+./'-)!*+.'&"%)4+@&%&'&"%)8.0+4)"%)>*"4$!'&"%V!"%0$#>'&"%)0(0'+#)5+%+*.'&"%)I^.!=0"%6)H;;KL9)M')&%!*+.0+0)'-+)/"!./)P*"00)T"#+0'&!)U*"4$!').%4)'-$0)'-+)/"!./)+!"%"#(),&'-)&'0)>"0&'&5+).%4)%+2.'&5+)0"!&"V+%5&*"%#+%'./)&#>.!'9::)?-.']0),-()0"!&"V'+!-%&!./)&%%"5.'&"%0)3"*)+!"%"#&!)0$0'.&%.8&/&'()'-*"$2-)!"##$%&'()!$**+%!&+0)0'&//)%++4)+5"/$'&"%6)+5+%)&%)_*.W&/9)M')-.0)'")+#>",+*)!"##$%&'&+0)'")8$&/4)+!"%"#&+0)'-.').*+)8"'-)0$0'.&%.8/+).%4)4+#"!*.'&!)&%)"*4+*)'")8$&/4)'-+)'*$+),+./'-)"3)'-+)2*.00*""'06)'-+)&%'+//&2+%!+)"3)-+.*')IP*+!"6)H;;K`)a&5+*+'6)H;;HL9)
“In the city of Fortaleza, 59 Ecoelce barter centers have collected 4,600 tons of waste, generating a credit of R$ 588,0009 as energy bonus for the customers’ accounts of more than 120,000 beneficiaries.”
![Page 47: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/47.jpg)
International Journal of Community Currency Research 15 (2011) D 39-46 44
IJCCR
Ban
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9)'#/,2,(#<
Conclusion
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)6$()**+,&-.$(+//#,(.$&,$?2-&,$@*#/&(2<$!"#$
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2,1$&**2-#/&23$#8("2,9#$&,(#,-&'#$7&-"$
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-)$)5#,$/+3#0$9)'#/,2,(#<$@553$/#0#2/("$
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2("&#'#$-"&0:$-"#$0#(-)/$)6$'#,-+/#$5"&32,-"/)5.:$
#'#,$&,$?2-&,$@*#/&(2:$0")+31,O-$4#$*)/#$
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#')3+-&),:$/#')3+-&),$-"2,;0$-)$2$*&(/)B
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![Page 48: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/48.jpg)
International Journal of Community Currency Research 15 (2011) D 39-46 45
Endnotes
!!"#!$%#&'()*+!)!,%--'#./0!,'((1#,0!.*!21.#3!4)'#,51&!.#!6778!9./5!:+;6:!<1,1*!.#!,.(,'4)/.%#!=%(!2.%&.1*14!>'(,5)*1!)#&!#)/.%#)4!,'((1#,0!,%#?1(*.%#@!"#!A%*/)!B.,)+!)!/.-1!2)#C+!-.,(%,(1&./!)#&!2.%&.1*14!>(%D1,/!5)*!211#!*1/!'>!.#!677E!/5(%'35!)!,%--'#./0!,'((1#,0!'*1&!.#!)!*'3)(+!,%==11!)#&!*'3)(!,)#1!,%%>1()/.?1+!,)441&!/51!A%%>1?.,/%(.)@!"#!F,')&%(+!)!,%--'#./0!,'((1#,0!>(%D1,/!9.44!21!,(1)/1&!.#!67G7!/5(%'35!/51!.**'1!%=!)!4%,)4!,'((1#,0!%=!)!,%--'#./0!2)#C!'*1&!20!9%(C1(*!>)(/.,.>)/.#3!.#!/51!(1=%(1*/)/.%#!>(%D1,/@
"!H5%*1!IG!,%--'#./0!2)#C*!&%#J/!(1>(1*1#/!/51!95%41!%=!K()L.4.)#!*%,.)4!,'((1#,0!*0*/1-*!21,)'*1!./!1M,4'&1!2)(/1(!,%--'#./0!-)(C1/*!95.,5!)(1!)4*%!'*.#3!*%,.)4!,'((1#,.1*!)*+!=%(!1M)->41+!/51!N(O%!'*1&!.#!/51!K(1,5P!F,%Q*%4.&R(.%!%=!/51!,./0!%=!S)4?)&%(!&1!K)5.)T!%(!%/51(*!.#!/51!B1&1!&1!K)#,%*!&1!H(%,)*!S%4.&R(.)*!%=!/51!,./0!%=!SO%!<)'4%!95.,5!2(.#3*!/%31/51(!/51!U1.()!&1!H(%,)*!S%4.&R(.)*!&%!A1#/(%!&1!SO%!<)'4%+!U1.()!&1!H(%,)*!S%4.&R(.)*!<(%*%4+!)#&!U1.()!&1!H(%,)*!S%4.&R(.)*!&)!B1&1!V)2)W')()@
#!BX!;7+777+777+!.#!/51!K()L.4.)#!#)/.%#)4!-%#10+!.*!1W')4!/%!G:+:::+:::!Y!9./5!)#!1M,5)#31!()/1!%=!6@6I@
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
%!BX!877+!.#!/51!K()L.4.)#!#)/.%#)4!-%#10+!.*!1W')4!/%!EII!Y!9./5!)#!1M,5)#31!()/1!%=!6@6I@
&!H5.*!5.351(!/()#*),/.%#!,%*/!,)#!21!(14)/.?.L1&!20!/51!=),/!/5)/!*%,.)4!,'((1#,0!.#&.(1,/40!.#/13()/1*!*%,.)4!)#&!1#?.(%#-1#/)4!1M/1(#)4./.1*!%=!>(%&',/*!20!21.#3!'*1&!.#!)!4%,)4!,4%*1&!-)(C1/!%=!3%%&*!)#&!*1(?.,1*@
'!"#!1?1(0!,)*1+!%#1!*%,.)4!,'((1#,0!.*!1W')4+!.#!?)4'1+!/%!%#1!#)/.%#)4!,'((1#,0@!U%(!1M)->41+!%#1!<)4-)*+!.**'1&!20!K)#,%!<)4-)*!.#!U%(/)41L)+!.*!1W')4!/%!%#1!B1)4+!/51!K()L.4.)#!%=Z.,.)4!,'((1#,0!.**'1&!20!/51!A1#/()4!K)#C@
(!"#!?.19!%=!/51.(!,%#?1#/.%#)4!)#&!,%#/(),/')4!#)/'(1+!*%,.)4!,'((1#,0!*0*/1-*!/1#&!/%!21!413)440!*/(',/'(1&!.#!,%->4.)#,1!9./5!413)4!*/)#&)(&*+!9./5.#!*>),1*!.#!95.,5!/51!\)9!3()#/*!=(11&%-!)#&!>(.?)/1!)'/%#%-0!.#!1),5!*%,.)4!,%#/1M/@!H5)/J*!
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!+!H51!34%2)4!,'4/'()4!#1/9%(C!,%##1M.%#+!%(!A'.(,'./%!U%()!&%!F.M%!.#!<%(/'3'1*1+!.*!>(1*1#/!.#!6I!%=!/51!6:!K()L.4.)#!*/)/1*!)#&!*'>>%(/.#3!;E!,'4/'()4!,%441,/.?1*!/5(%'35!.#&1>1#&1#/!=1*/.?)4*@!6!%=!/5%*1!,'4/'()4!,%441,/.?1*!)(1!.**'.#3!/51!*)-1!,%--'#./0!,'((1#,0!*0*/1-!/5(%'35!/51.(!.#&1>1#&1#/!=1*/.?)4 !̀/51!,'4/'()4!,%441,/.?1!N%-)!.#!/51!,./0!%=!a21(4)#&.)!.#!/51!*/)/1!%=![.#)*!N1().*!5)*!,(1)/1&!.#!677b!./*!%9#!,%--'#./0!,'((1#,0!,)441&!N%-)!A)(&T!/51!,'4/'()4!,%441,/.?1!A)/().)!.#!B.%!K()#,%!.#!/51!*/)/1!%=!c,(d!4)'#,51&!.#!6778!./*!A)/().)!A)(&@!
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
Acknowledgements
H51!)'/5%(!3()/1='440!),C#%941&31*!/51!,%#/(.2'/.%#!)#&!*'>>%(/!%=!)44!&.(1,/%(*!)#&!1M)-.#1(*!%=!/51!(1*1)(,5!%(.1#/1&!/51*.*!95.,5!.#*>.(1&!/5.*!>)>1(`!1*>1,.)440!$14%e*)!<(.-)?1()+!\)4)!f151.#L14.#+!c#&(d!A)(?)45%+!A14*%!S1C.3',5.!)#&!B%4)#&!g)M14).(1!=%(!/51.(!(1?.19+!,(./.,.*-!)#&!%(.1#/)/.%#!%#!/5.*!(1*1)(,5!%(.1#/1&!/51*.*@!V1)#QU()#h%.*!i%'214+!A4)'&1!<1(.3)'&+![.3'14!j)*'0'C.!$.(%/)+!S%>5.1!$'1/+!A5(.*/%>51!A1*1//.+!A14.#)!k5./)C1(+!A)(4%*!f1!U(1./)*!5)?1!)4*%!>)(/.,.>)/1&!.#!/5.*!>)>1(!/5(%'35!'*1='4!(1=1(1#,1*@!H51!)'/5%(!)4*%!),C#%941&31*!f(!N.44!S10=)#3+!<(%=1**%(!A%4.#!A@!k.44.)-*+!)#&!f(!i%14!\%#35'(*/!=%(!3.?.#3!/51!%>>%(/'#./0!/%!9(./1!/5.*!)(/.,41!=%(!/51!"#/1(#)/.%#)4!V%'(#)4!%=!A%--'#./0!A'((1#,0!B1*1)(,5@
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International Journal of Community Currency Research 15 (2011) D 39-46 46
References
!"#$#%&'"()&*+,,-./&0123&456$789(5$:&!5;598/&<=8(>8?>#&5$&@AAA/%5B(8>9"87#/5";C/&D5$%6>9#7&9E#&FG9E&5H&I#B#J?#"&+,,-/
DKDI&*+,,-./&2#>89L"(5%&9MB$(B5%/&D#$9"5&K5N6>8"&7#&D6>96"8&#&I#%#$=5>=(J#$95&*DKDI.:&!#>5&O5"(P5$9#/
I#E#($P#>($&Q8>8&*+,,-./&R5=5%&?8$B5%&#&J5#78%/&S$T&0'USRV2S3&D2S'&4W1W230&S!'23&<UX2SD<Y&R3Z30&!<RD30&'&U3'I<0:&F/:&F[9E&8$7&F\9E&5H&3B95?#"&+,,-:&0]5&K86>5/&K"#%#$989(5$/&0]5&K86>5T&D2S'&4W1W230/
'%N8^5&D6?5&*+,,-./&K"5_#95&7#&(JN>#J#$98^]5&7#&J5#78%&B5JN>#J#$98"#%&#J&B5J6$(787#%&N#/&'%N8^5&B6?5:&D6(8?`/
4!'0&*+,,-./&!8$B5&B#$9"8>&"#B5$E#B#&8&(JN5"9a$B(8&78&"#7#&7#&?8$B5%&B5J6$(9`"(5%&N8"8&5&7#%#$=5>=(J#$95&75&N8b%/&4L"6J&!"8%(>#("5&7#&'B5$5J(8&05>(7`"(8&*4!'0.:&0]5&K86>5:&+\9E&5H&R5=#J?#"&+,,-/
4M>(c&189(8$8&*+,,-./&U5#78%&%5B(8(%&B"#%B#J&#&H5"98>#B#J&#B5$5J(8%&>5B8(%&#J&9575&5&N8b%/&<IS1<Q:&<;d$B(8&7#&S$H5"J8^]5&4"#(&1(95&N8"8&<JM"(B8&Q89($8:&45"98>#P8:&+["7&5H&0#N9#J?#"&+,,-/&<=8(>8?>#&5$&@AAA/87(98>/B5J/?"C/&D5$%6>9#7&9E#&FG9E&5H&U8"BE&+,F,/
4"#("#&U8"6%8&Z8%B5$B#>5%&*+,,-./&05B(8>&#B5$5Je&8$7&B#$9"8>&?8$)%T&>#;8>&8$7&"#;6>895"e&(%%6#%&5$&%5B(8>&B6""#$B(#%&*%5B(8>&J5$#e.&8%&8&N6?>(B&N5>(Be&($%9"6J#$9&B5$%(%9#$9&A(9E&J5$#98"e&N5>(Be/&R5"A(BET&S$9#"$89(5$8>&f56"$8>&5H&D5JJ6$(9e&D6""#$Be&2#%#8"BE&Z5>&F[&NN/ghY-\/
i"#B5&1E5J8%&O/&f"/&*+,,-./&1E#&#$7&5H&J5$#e&8$7&9E#&H696"#&5H&B(=(>(P89(5$/&Z#"J5$9T&DE#>%#8&;"##$&N6?>(%E($;&B5JN8$e/
f8B)%5$&1(J&*+,,-./&K"5%N#"(9e&A(9E569&;"5A9Ej&1E#&9"8$%(9(5$&95&8&%6%98($8?>#&#B5$5Je/&06%98($8?>#&I#=#>5NJ#$9&D5JJ(%%(5$:&Q5$75$/
Q#J5%&25$8>75:&D8%9"5&35$8&*+,,g./&3N#$&?6%($#%%&J57#>%&Q89($&<J#"(B8/&D#$9"5&7#&9#B$5>5;(8&#&%5B(#787#&78&4iZ&IS2'S13&2S3:&2(5&7#&f8$#("5/
Q(#98#"&!#"$8"7:&k#$$#7e&U8";"(9&*+,,l./&U5$$8(#%&"M;(5$8>#%:&7#&$56=#>>#%&=5(#%&=#"%&6$#&N"5%NM"(9M&76"8?>#/&K8"(%&T&X7(9(5$%&DE8">#%&QM5N5>7&U8e#"/
Q(J8&D8">5%&</&4"L#%	&8>((&*+,,-./&K"5;"8J8&#B5#>B#&7#&9"5B8&7#&"#%b765%&N5"&?m$6%&$8&B5$98&7#&#$#";(8/&S$T&Z&D3Ri2'003&I'&SR3Z<no3&1'DR3QpiSD<&'U&'R'2iS<&'QX12SD<&*Z&DSR'1'Q.:&G/:&+\9E&5H&f6$#&+,,-:&!#>MJ/&<$$8>%/&!#>MJT&<R''Q/
R56?#>&f#8$Y4"8$^5(%&*+,,\./&S$9#>>(;#$B#&B5>>#B9(=#:&>8&"M=5>69(5$&($=(%(?>#/&1E#1"8$%(9(5$#"/
K(99%&R898%E8&*+,,-./&K"5_#95&7#&>#(&=8(&"#;6>8J#$98"&8968^]5&7#&?8$B5%&B5J6$(9`"(5%/&48B#%&75&!"8%(>&q&K5"98>&7#&D5JM"B(5&f6%95&#&05>(7`"(5:&0]5&K86>5:&F%9&
5H&3B95?#"&+,,-/&<=8(>8?>#&5$&@AAA/H8B#%75?"8%(>/5";/?"C/&D5$%6>9#7&9E#&FG9E&5H&U8"BE&+,F,/
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257"(;6#%&S=#9#:&!8"?(#"(&f5%M&D8">5%&*+,,l./&u<&#J#";d$B(8&78&9#B$5>5;(8&%5B(8>T&"#=(%(98$75&5&J5=(J#$95&78&9#B$5>5;(8&8N"5N"(878&B5J5&#%9"89M;(8&7#&7#%#$=5>=(J#$95&%6%9#$9`=#>u/&2#=(%98&7#&<7J($(%9"8^]5&Kv?>(B8:&2(5&7#&f8$#("5T&4i'Y'!<K':&Z5>&\+*h.&NN/F,h-YF,-\:&R5=#J?#"wI#B#J?#"/
08$BE#%&U8"(8$8&*+,,-./&u1578%&#%98%&$598%&B("B6>8J&$5&!"8%(>u/&XN5B8:&0]5&K86>5:&+["7&&5H&U8"BE&+,,-/
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0E#NE8"7&I5")(%&i#5";#99#&*+,,-./&U5$#78%&7#&9"6#x6#&#$&Z#$#P6#>8/&&S$T&0'USRV2S3&D2S'&4W1W230&S!'23&<UX2SD<Y&R3Z30&!<RD30&'&U3'I<0:&F/:&F[9E&8$7&F\9E&5H&3B95?#"&+,,-:&0]5&K86>5/&K"#%#$989(5$/&0]5&K86>5T&D2S'&4W1W230/
0123&*+,F,./&D[&W"6;68e/&05B(8>&1"87#&3";8$(P89(5$&W"6;68e/&<=8(>8?>#&5$&@AAA/%9"5/5";/6eC/&D5$%6>9#7&9E#&FG9E&5H&U8"BE&+,F,/
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1E#&O6?&*+,F,./&'$"#7#Y%#&$5&O6?Y0KT&B6>96"8&7#&8?6$7a$B(8:&=8>5"#%&#&$#9A8=($;&N5"&6J&J6$75&J#>E5"/&1E#&O6?:&0]5&K86>5:&+,F,/&<=8(>8?>#&5$&@E99NTww#$"#7#%#$5E6?Y%N/$($;/B5JC/&D5$%6>9#7&9E#&FG9E&5H&U8"BE&+,F,/
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IJCCR
Ban
co P
alm
as, B
razi
l
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International Journal of Community Currency Research 15 (2011) D 47-51 47
Introduction
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$
The Founding Principles and Organisational Structures
!"#$P.12/$31.-*.3&<$4.))#1#-*#$/"&/$%#$(72#1'#4$.2$.-$/"#.1$)(,-4.-C$31.-*.3<#2$&-4$(1C&-.2&/.(-&<$2/1,*/,1#A$D2$&$2#<)^31(*<&.+#4$2(*.&<$#*(-(+0$.-./.&/.'#8$<ED**(14#1.#$&//#+3/2$/($&<<#'.&/#$3('#1/0$&-4$2(*.&<$#R*<,2.(-$C,.4#4$70$/"#$31.-*.3<#$()$#*(-(+.*$.-4#3#-4#-*#$:;.<(4#&,$_$F#$;(22H$=>>X@`$%".<#$IJK$.2$+(1#$&$C1&221((/2$.-./.&/.'#$7&2#4$(-$'(<,-/##1$
L’Accorderie and Le Jardin D’Échange Universel (JEU) in Quebec: A comparative case studyMathieu Lizotte and Gérard Duhaime
Department of Sociology, Laval University
[email protected]; [email protected]
International Journal of Community Currency Research
IJCCR
Abstract
!".2$3&3#1$*(+3&1#2$/%($()$/"#$+(2/$2,**#22),<$*(++,-./0$*,11#-*0$202/#+2$.-$/"#$31('.-*#$()$6,#7#*8$9&-&4&a$<ED**(14#1.#$&-4$F#$I&14.-$4EJ*"&-C#$K-.'#12#<$:IJK@A$!"#$3&3#1$*(+3&1#2$/"#.1$)(,-4.-C$31.-*.3<#2$&-4$(1C&-.2&/.(-&<$2/1,*/,1#28$&-4$/"#.1$+#*"&-.2+2$&-4$+#4.,+2$()$#R*"&-C#A$N".<#$/"#$)(1+#1$.2$Q,./#$%#<<^.-2/./,/.(-&<.2#4$&-4$&//#+3/2$/($(3#1&/#$31()#22.(-&<<08$b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
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 47-51 48
!"##$%&'()&%*"+*,#,%')-.&!.)/�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
7.&0)"24/%&0/'&"%/+)5&88,2,%!,)./0)0,*,2/+)+/0'&%4)!"%0,X$,%!,06)U&20'+(<)-.&+,)#"0')!"##$%&'()!$22,%!()0(0',#0)4,%,2/++()"1,2/',)"%)/)0.",0'2&%4)@$54,')-&'.)+&#&',5)2,0"$2!,0)JV,(8/%4)KLLKQ<)/0)/)0"!&/+),!"%"#()&%&'&/'&*,<)+>?!!"25,2&,)./0)/!!,00)'")8$%5&%4)82"#)'.,)%"%912":&')0,!'"2)/%5)82"#)!"##$%&'()
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
IJC
CR
L’A
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deri
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U in
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If we were to caricaturise, we might say that one currency tries to work from within the system while the other tries to operate outside of the system.
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International Journal of Community Currency Research 15 (2011) D 47-51 49
!"#$%#&'()$!"*!$+#$,(--#,!#)$(.&$)*!*/$012$.3.*--4$"#-)$'!3$*,!'5'!'#3$'6$*$-(,*-$,((%#&*!'5#$7*&8$*$-(,*!'(6$+"',"$+*3$6(!$,(63')#&#)$*9&##*7-#$!($3(:#$012$:#:7#&3$+"($+(.-)$%&#;#&$*$-(,*-$,(::.6'!4$"*--$(&$*6$#3!*7-'3":#6!$+"#&#$6($*-,("(-$'3$3#&5#)<
="#$3#,(6)$-*3!'69$,(63#>.#6,#$(;$!"#$(&9*6'3*!'(6*-$3!&.,!.&#$'3$!"*!$-?@,,(&)#&'#?3$3.73!*6!'*-$;.6)'69$'6$-#9*-$!#6)#&$"*3$%#&:'!!#)$'!$!($(;;#&$:',&(,&#)'!$!($'!3$:#:7#&3<$@3$(6#$(;$!"#$;.6)'69$(&9*6'3*!'(63$'3$*$,((%#&*!'5#$7*6A/$-?@,,(&)#&'#$"*3$*$3%#,'*-$;.6)$*5*'-*7-#$;(&$!"'3$%.&%(3#<$B'6,#$CDDC/$-?@,,(&)#&'#$"*3$-(*6#)$(.!$EFGH/IJK$'6$:',&(,&#)'!<$B%#,'L',*--4/$!"#4$(;;#&$:',&(,&#)'!$-(*63$'6$-#9*-$!#6)#&$.%$!($EFDDD$*!$*$&*!#$(;$J<MN$3':%-#$'6!#!$+'!"$*$:*O':.:$&#%*4:#6!$%#&'()$(;$!+($4#*&3<$P(*63$*&#$.3.*--4$9'5#6$;(&$!"#$%.&,"*3#$(;$"(.3#"(-)$*%%-'*6,#3$;(&$!"#$:#:7#&3$+"($&*&#-4$"*5#$!"#$6#,#33*&4$3*5'693$!($%.&,"*3#$!"#:$+'!"(.!$(&!'69$!($!*-$%-*63$+"',"$!4%',*--4$%&(5#$&*!"#&$,(3!-4$'6$!"#$-(69$&.6<$="#$&#%*4:#6!$%-*63$*&#$6#9(!'*!#)$*6)$)#3'96#)$*,,(&)'69$!($!"#$6##)3$*6)$L'6*6,'*-$3'!.*!'(63$(;$!"#$-(*6$!*A#&3<$Q6$,(6!&*3!/$012$'3$6(!$'6$*$%(3'!'(6$!($(;;#&$:',&(,&#)'!$-(*63<$R"'-#$'!$,*6$(;;#&$:.,"$*33'3!*6,#$!($'!3$:#:7#&3$'6$;*,'-'!*!'69$-(,*-$#O,"*69#3/$'!$,*66(!$(;;#&$*64$*33'3!*6,#$'6$-#9*-$!#6)#&$+"#6$)#*-'69$+'!"$!"#$;(&:*-$#,(6(:4<
The Medium of Exchange
="#$3#,(6)$%&'6,'%*-$)';;#,#$!"*!$+#$(73#&5#)/$*;!#&$!"#$;(.6)'69$%&'6,'%-#3$*6)$!"#$(&9*6'3*!'(6*-$3!&.,!.&#/$'3$!"#$!4%#$(;$,(::.6'!4$,.&,4$.3#)$74$#*,"$343!#:<$B':'-*&-4$!($!"#$=':#$S*6A$:()#-/$-?@,,(&)#&'#?3$:#)'.:$(;$#O,"*69#$'3$7*3#)$(6$!':#$+"'-#$012?3$'3$7*3#)$(6$*6$*&7'!&*&4$.6'!$(;$#O,"*69#$3':%-4$,*--#)$T%('6!3U/$3':'-*&/$'6$!"'3$	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
\.&$#*&,"$3.99#3!3$!"*!$!($7#,(:#$*$:#:7#&$(;$-?@,,(&)#&'#$*6)$012/$(6#$:.3!$#33#6!'*--4$*)"#&#$!($+"*!$+#$:*4$&#;#&$!($*3$'!3$,(&#$5*-.#38$!"*!$'3$*$;(&:$(;$#O,"*69#$7*3#)$:(&#$(6$,((%#&*!'(6$!"*6$%&(L'!$:*A'69<$R"'-#$!"#$:#:7#&3$+#$'6!#&5'#+#)$,-#*&-4$"*)$:*!#&'*-$'6,#6!'5#3$!($%*&!','%*!#$'6$,(::.6'!4$,.&,4$#O,"*69#/$!"#'&$:'6)3#!$+*3$:(&#$(&'#6!*!#)$!(+*&)3$3(-')*&'!4$!"*6$%&(L'!$'6$!"#$,(65#6!'(6*-$3#63#<$="'3$(73#&5*!'(6$+*3$3.%%(&!#)$'6$%*&!$74$!"#$:#:7#&3$+#$'6!#&5'#+#)$+"($,-#*&-4$)')$6(!$"*5#$*$3(-')*&'!4$:'6)3#!<$="#3#$:#:7#&3$"*)$]('6#)$#'!"#&$-?@,,(&)#&'#$(&$012$+'!"(.!$,-#*&-4$.6)#&3!*6)'69$!"#$!4%#$(;$#O,"*69#$!"#4$%&(:(!#)<$R#$(73#&5#)$!"*!$!"#3#$:#:7#&3$;#-!$3.73!*6!'*-$;&.3!&*!'(6$*3$!"#4$!#6)#)$!($*%%&(*,"$,(::.6'!4$,.&,4$#O,"*69#$+'!"$*$-'7#&*-$:'6)3#!<$^(&$#O*:%-#/$;(&$!"#3#$:#:7#&3/$!($#O,"*69#$*$3#&5',#/$3*4$*,,(.6!'69/$!"*!$+*3$5*-.#)$:(&#$'6$!"#$;(&:*-$#,(6(:4$;(&$*$3#&5',#/$3*4$9*&)#6'69/$+"',"$+*3$5*-.#)$-#33$+*3$6(!$(6-4$'&&*!'(6*-$7.!$3(:#!':#3$#5#6$,(63')#&#)$,"*&'!4<$R"'-#$!"#4$*!!#:%!#)$'6$3(:#$+*43$!($*%%-4$*$)';;#!$3#!$(;$5*-.#3$!($!"#$#O,"*69#/$!"#4$+#&#$,-#*&-4$.6*7-#$!($3.;L','#6!-4$,"*69#$!"#'&$:'6)3#!$'6$!"#$,(6!#O!$(;$-(,*-$#O,"*69#3<$Q6$,(6!&*3!/$+"'-#$!"#$(!"#&$:#:7#&3$+#$'6!#&5'#+#)$"*)$]('6#)$;(&$5*&'(.3$&#*3(63/$7(!"$%#&3(6*-$*6)$')#(-(9',*-/$!"#$5*-.#3$(;$,((%#&*!'(6$*6)$3(-')*&'!4$3(.9"!$;(&$'6$-(,*-$#O,"*69#3$+#&#$3##6$*3$&*!'(6*-<
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IJCCR
L’A
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deri
e an
d JE
U in
Que
bec
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International Journal of Community Currency Research 15 (2011) D 47-51 50
IJCCR
L’A
ccor
deri
e an
d JE
U in
Que
bec
L’Accorderie JEU
Founded 2002 1998
Part of a larger network
Yes Yes
Approximate membership
750 120
Official goals The alleviation of poverty and social exclusion; solidarity
To provide a universal exchange system; solidarity
Model State model, legal non-profit status Grassroot model, no legal status
Type of organisational structure
Formal society; boards of directors; executive board
Horizontal, acephalous and informal
Legal status Registered non-profit Unregistered; no legal status
Human resources Full-time staff Volunteers
Budget Funding, $100,000 Minimal, shoestring
Transaction system Centralized records Decentralized records
Office space Yes No
Microcredit Yes No
Social activities Regular, Monthly Sporadic
Activity rooms Yes No
Buyer’s group Yes No
Medium of exchange Based on time Arbitrary point system
Values of exchange Fixed on time; one hour of any work equals one hour, no exception
Recommendation that 60 points should equal approximately one hour of work.
Conclusions
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
S(%/2*-+<$.($'&.$)=&)$-56%%/#*(#1($&2*$789$*/$2/)$"'($)=($'&A($A(*1"A$/3$(C%=&2>(T$)=($3/#A(#$1'$4&'(*$/2$)1A($.=1-($)=($-&))(#$1'$4&'(*$/2$&2$))#&#+$0/12)$'+')(A:$U('01)($/3$)=1'<$4/)=$&#($'1A1-&#$12$)=($'(2'($)=&)$)=(+$&))(A0)$)/$#&)1/2&-1'($,&-"('$/3$(%/2/A1%$'/-1*)+$12$)=(1#$(C%=&2>($.=1%=$A&+$4($
Table 1: An overview of differences between L’Accorderie and JEU community currency systems in Quebec
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International Journal of Community Currency Research 15 (2011) D 47-51 51
IJCCR
L’A
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bec !"#$%&'()'*!!*+(,(*)',*',-%'"(.%/#"'0#"1%+'2-($-'#/%'3(/4"5'
/#,(*)#"(+%&'()',-%'6*/4#"'%$*)*457'81/'/%+1",+'+199%+,',-#,'()&(0(&1#"+'2-*'#&-%/%',*',-%'0#"1%+'*6'+*"(&#/(,5'#)&'$**!%/#,(*)'#/%'4*/%'"(:%"5',*'.%$*4%'4%4.%/+'*6'$*441)(,5'$1//%)$5'+5+,%4+'#)&',*'/%4#()'#$,(0%7'
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
R*/',-%',(4%'.%()9='">?$$*/&%/(%'#!!%#/+',*'.%'%<!#)&()9'+,%#&("5'#)&'+%0%/#"'*,-%/'$*441)(,(%+'-#0%'#"/%#&5'4#)(6%+,%&'#)'(),%/%+,'()'"#1)$-()9',-%(/'*2)'./#)$-7'S)'6#$,='">?$$*/&%/(%'-#+'/%$%),"5'6*1)&%&'#'/%9(*)#"'.*#/&'2(,-'/%!/%+%),#,(0%+'6/*4'%#$-'./#)$-'()'*/&%/',*'.%,,%/'#&4()(+,%/',-%')%,2*/:'#+'2%""'#+',*'()+,(,1,(*)#"(+%'#'2#5',*'+-#/%'#)&'!/*0(&%'%<!%/,(+%7
'
Endnotes
!'@-%')#4%'(+'#')%*"*9(+4'2-($-'+,%4+'6/*4'#$$*/&='4%#)()9'&%#"7'@-%'"(,%/#/5',/#)+"#,(*)'*6'">?$$*/&%/(%'2*1"&'.%'T@-%'U%#"%/(%V='#'!"#$%'2-%/%'&%#"+'#/%'4#&%7
"'@/*(+AW(0(X/%+'YONNZ[='\*),/]#"'Q*/&'YONNL[='\*),/]#"'B*$-%"#9#A\#(+*))%10%'YONN^[='J-#2()(9#)'YONKN[7'
#'_#1/%),(&%+='\*),/]#"='\*),/]#"A81%+,='81,#*1#(+='G1].%$='J-%/./**:%7'
$';%'1+%',-(+',%/4'#+'#'+(4!"(3($#,(*)'*6'$*1/+%'+()$%'4#/:%,'6*/$%+'#/%'#'$*4!"%<'+%,'*6'+*$(#"'/%"#,(*)+='*.`%$,(3($#,(*)+'*6'/1"%+'#)&'$*)+,%""#,(*)+'*6'0#"1%+'2-($-'#/%'/#,(*)#"(a%&'()',-%')*/4+'*6'%<$-#)9%7'
%&&@-(+')14.%/'%<$"1&%+',-%',/#)+#$,(*)+'2-($-'2%/%'&*)%'.5',-%'PPL'4%4.%/+'2-($-'#/%')*,'"*)9%/'$*)+(&%/%&'#$,(0%7
References
H("*&%#1='?7='_%'H*++]='b7'YONNc['d_>?$$*/&%/(%'e'(""1+,/#,(*)'$*)$/X,%'&>1)%'!/#,(f1%'%<!"($(,%4%),'+,/1$,1/]%'g'!#/,(/'&%'">#!!/*$-%'$%),/]%'+1/'"%'&]0%"*!!%4%),'&1'!*10*(/'&>#9(/'&%+'!%/+*))%+'%,'&%+'$*""%$,(0(,]+>7'F#++%/%""%+='h*"'KYK[='!!7'ZZ'A'cN7
H*1"(#))%='\7'YONNP['d_%+'+5+,X4%+'&>]$-#)9%'&%'!/*<(4(,]e'1)%']$*)*4(%'!*"(,(f1%'&1',%4!+'%,'&%'"#'$*)+*44#,(*)>7'S)'R%//#)&*'5'F1(9='C7='i(#4!*/$#/*AJ#1)(X/%='J7'YD&7['F*1/'1)%'j'#1,/%'k'$*)+*44#,(*)7'J%)+'%,']4%/9%)$%'&>1)%'$*)+*44#,(*)'!*"(,(f1%7'_>B#/4#,,#)='I*""%$,(*)'U*++(%/+'J$(%)$%+'B14#()%+'%,'J*$(#"%+='J]/(%'I*)+*44#,(*)+'%,'J*$(],]+e'F#/(+'!!7KLcAKcl7
H*1"(#))%='\7'YONNZ['d@-%'4*0%4%),'6*/'#)'%$*)*45'*6'+*"(&#/(,5e'E/.#)'#9/($1",1/%'#)&'"*$#"'%<$-#)9%',/#&()9'+5+,%4+'()'G1%.%$>7'W%+%#/$-'()'D$*)*45'?),-/*!*"*95='h*"'OM='!!7OZKAOcL7
I*-%)='H7'YKcc^[7'!"#$%#&'()*"+$&,$-&.#+'I*/)%""'E)(0%/+(,5'F/%++='S,-#$#7'
i/%9*/5='I7'YKccZ[7'TI*2/(%+'#)&'I*)f1%+,e'@*2#/&+'#'J1.#",%/)#,(0%'G1#"(,5'@-%*/5'*6'\*)%5V$I*4!#/#,(0%'J,1&5'*6'J*$(%,5'#)&'B(+,*/5='h*"'l^='Q*7'O='!!7'KcP'A'OKL7''
-)(/0$12$345678$9):;#0$*(<=#$).>$*(&?<@A$B>>(#CC#>$@&$D&(E<.'$F#.0'i7'?""%)'m'E)2()='_*)&*)7'
J%56#)9='i7'YONNO['d@#$:"()9'+*$(#"'%<$"1+(*)'2(,-'$*441)(,5'$1//%)$(%+e'"%#/)()9'6/*4'_D@J',*'@(4%'H#):+>7'S),%/)#,(*)#"'C*1/)#"'*6'I*441)(,5'I1//%)$5'W%+%#/$-='h*"'Z='!!7'KAKK7
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International Journal of Community Currency Research 15 (2011) D 52-56 52
Introduction
!"#$%&'(&)*$&'#+,-(),./).,-0&+-/)",&$#(.,'#1&2'3'('"#&"+&)*$&0-4".,&5')*'#&)*$&/"66.#')%7&')&$#-40$(&$8/*-#1$&"+&'#+",6-)'"#9&$#$,1%9&($,3'/$&-#2&6-)$,'-0&4$)5$$#&)*$&:-,)'/':-#)(&"+&)*$&-/)'3')%&),-2$;<&=)&(*".02&#")&,.0$9&4.)&($,3$&)*$&/')'>$#(&-#2&/"66.#')%9&("&')&'(&-#&'6:",)-#)&:-,)&"+&)*$&/"66"#&:,":$,)%<&?*-)&6$-#(9&)*-)&)*$&6"#$%&(%()$69&-(&/"66"#&:,":$,)%&(*".02&($,3$&)*$&/"":$,-)'"#&5')*'#&)*$&0"/-00%&",1-#'>$2&-#2&#-).,-0&",2$,&$3"03$2&/"66.#')%<&&
Historical background
@&(6-00&1,".:&"+&$#),$:,$#$.,(&'#&A":,"#&B(').-)$2&#$-,&)*$&5$()$,#&4",2$,(&"+&C.#1-,%&5')*&-&:":.0-)'"#&"+&DE&)*".(-#2F&2$/'2$2&'#&)*$&-.).6#&"+&;GGH9&)"&6-I$&)*$&0"/-0&$/"#"6%&:,"(:$,&-1-'#<&?*$%&/,$-)$2&-&/"6:0$6$#)-,%&/.,,$#/%9&/-00$2&JKI+,-#I&B6$-#'#1&L40.$&+,-#/M9&('6'0-,0%&)"&)*$&#-6$&"+&-&+-6".(&,$2&5'#$&+,"6&)*$&,$1'"#F<
N$+",$&)*-)&)'6$&-&5'2$&)*$",$)'/-0&6"3$6$#)&5-(&-,'('#17&'#&)*$&O',()&%$-,&"+&)*$&;G)*&/$#).,%&API0-I%&),-#(0-)$2&-#2&2'++.($2&)*$&4-('/&5",I&
"+&Q$($00&BQ$($009&RSGTF<&?*$&C.#1-,'-#&1,$$#&6"#$%&6"3$6$#)&5-(&:,$($#)$2&'#&2$)-'0&4%&U",)*&BU",)*9&;GGT9&'#&C.#1-,'-#7&;GGHF<&A'#/$&)*$#9&2.$&)"&)*$&$/"#"6'/&/,'('(9&)*$&#$$2&$3$#&(),$#1)*$#$2&)"5-,2(&)*$69&4.)&-0("&)*$&)*$",$)'/-0&4-('(&5'2$#$2<&?*$&(:,$-2'#1&"+&=#)$,#$)&*$0:$2&)*$&/',/.0-)'#1&"+&-0)$,#-)'3$&'2$-(9&)*$&",1-#'('#1&"+&/'3'0&/"#+$,$#/$(9&:,$($#)-)'"#(9&)*$&'#)$#('+%'#1&"+&VW?A&/',/0$(&-#2&0-()&4.)&#")&0$-()&)*$&/,$-)'"#&"+&)5"&0'#IX2',$/)",%&5$4(')$&"#&)*'(&(.4Y$/)<
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
Kékfrank to boost the resilience of localityZsuzsanna Eszter Szalay
Covinus University of Budapest Department of Business Economics
International Journal of Community Currency Research
IJCCR
Abstract
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
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 52-56 53
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
C-$-"#$#',$&/$-"#$.&%)*+).(D$-"#$%)-)V#'.$&/$0&12&'$%2#*-#,$").-&24$@4$&29*').)'9$-"#$X*';Y<2&1#*'$X)%')%D$-"#$)')-)*-)&'$&/$-"#$<')&'$&/$-"#$Z#2(*'$1&1<+*-)&'$3[*94D$[\C8>$
The first idea
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The innovation: Kékfrank introduced by European Cooperative Society
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The appearance of a new form of enterprise, the European Cooperative Society - abbreviated as SCE (EC, 2003), based on the Latin Societas Cooperativa Europae - was an important prerequisite to the introduction of the Kékfrank.
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International Journal of Community Currency Research 15 (2011) D 52-56 54
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Some data and facts
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International Journal of Community Currency Research 15 (2011) D 52-56 55
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Summary: what has been done and future goals
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8 b/'?,%'.(%1.$"5'#4'=,(5'#,%"5'*('/0"'("/?*$<'*2>','%4%/"!'*2'%.(-3"'+%"'!",3',(5'6,),/.*('6*+)0"$%&','2*$!'*2'(*(R?,-"',33*?,()"%7'b/'!",(%'/0,/'/0"'
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8 90"'3*),3',//"(5,()"'"%/,#3.%0"5',')**1"$,/.6"'/*'!,<"'/0".$'$"3,/.*(%'%/$*(-"$7'90"'?0*3"':;<2$,(<'#,%"5'%+1134R)0,.('%0*+35'#+.35'+1'2$*!'./%'"(51*.(/7'b/'5"!,(5%','6"$4',)/.6"'")*(*!.)R*$-,(.F"$'?*$<7'X0,.(%'%0*+35')$",/"')3*%"5'3**1%7'90.%'.%'(*/'("?a'/0.%'.%'/0"'"%%"()"'*2')**1"$,/.6"("%%7'''
8 A+/'/0"$"',$"'*(34','2"?'),%"%&'?0"$"'/0"')*!13"!"(/,$4')+$$"()4'#"3*(-%'/*',')**1"$,/.6"'=cbW'.('Z?./F"$3,(5&'W.6"$@[YWZ'.('[$"-*(&'YZ>&'%*'/0.%'.%','$,$./47'b/'.%')*+35'#"'%/,/"5'/0,/'%!,33',(5'3*),3',$"'-**5&'#+/'#",+/.2+3'*(34'.2'/0"4'),('#"'#*+-0/'*$'%*35'?./0'*?(')+$$"()47'
8 :;<2$,(<'?,%'.(/$*5+)"5'#4','("?'2*$!'*2'"(/"$1$.%"D'd+$*1",('X**1"$,/.6"'Z*)."/4'=ZXd>'90.%'?,4':;<2$,(<'+(./"%'/0"',$",%'%"1,$,/"5'#4'/0"')*+(/$4R#*$5"$'.('")*(*!.),3',(5')+3/+$,3'?,4%',(5'!,<"%'/0"'#$*<"('$"3,/.*(%0.1%',3.6"',-,.(7'b/'.%'.(',))*$5,()"'?./0'/0"'3"-.%3,/.*(',(5'/0"',.!%'*2'/0"'dY7'90.%'.%','6"$4'.!1*$/,(/'.((*6,/.*(7'
9*'5"6"3*1'/0.%'%4%/"!&'%+11*$/'*2'/0"'3*),3',(5'(,/.*(,3'")*(*!.)'3",5"$%',(5'"H1"$/%'?,%'?*(&',(5'/0"'J.$%/'@+(-,$.,('ZXd'?,%'2*+(5"5'/*'1"$2*$!'/0.%'/,%<&','3*(-'3.)"(%.(-'1$*)"5+$"'?,%',))*!13.%0"5&'/0"'$+%0'*2'/0"'!"5.,'0,5'/*'#"'0,(53"57'90"'1,/$.*/%'*2'Z*1$*('$"-,$5'/0"'2*+(5"$%'*2'/0"'Z?.%%'cbW',%'"H,!13"%'/*'2*33*?a'/0"4'"6"('6.%./"5'/0"!'.('A,%"37'U+/+$"'*#G")/.6"%'.()3+5"'/0"'.(/$*5+)/.*('*2'"3")/$*(.)&'#,(<'),$5'1,4!"(/%'#"%.5"%'1,1"$'#,%"5'/$,(%,)/.*(%',(5'/0"'3,+()0.(-'*2':;<2$,(<R3*,(',)/.6./47'
90"'$",3'/"%/'.%')*!.(-'*(34'(*?D'90"'!"!#"$%'*2'/0"'ZXd'0,6"'/*'+%"'/0"'("?')+$$"()4'2*$'/0".$'/$,(%,)/.*(%',%'.(/"(%.6"34',%'1*%%.#3"&'3.<"'.(','#.-'#,33R-,!"D'/0"'!*("4R#,33'!,4'(*/'2,33'5*?(&'(*$'-*'*+/%.5"'#4'#".(-'"H)0,(-"5'/*'2*$.(/7'90"'")*(*!.)'5"6"3*1!"(/')*()"1/'*2'/0"')./.F"(%'*2'Z*1$*('),('#")*!"'$",3./4'*(34'.('/0.%'?,47
90"('?.33'#")*!"'/$+"'/0"'!*//*'*2':$.%/e2'C,)<("$&'2,!*+%&'d+$*1"R$"(*?("5'3*(-R,-*'!,4*$'*2'Z*1$*(D'fL"$-./+$'(*('%+#!"$-./+$g&'/0,/'.%'f̂ 5$.2/'#+/'(*/'%+#!"$-.(-g7
![Page 59: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/59.jpg)
International Journal of Community Currency Research 15 (2011) D 52-56 56
IJC
CR
Kék
fran
k Acknowledgements
!"#$%&'"()$*+$'"%,-.&/$.()$'"#$"#/0$%,1$#,2(&)%3#4#,'$(.$5+'67,$894#'"$*,$'"#$0)#0%)%'*(,$(.$'"*+$%)'*2/#:
Endnotes
!$5,$4;$(0*,*(,<$2(44&,*';$2&))#,2;$*+$'"#$*1#%/$.()4$(.$2(40/#4#,'%);$2&))#,2;<$%++&4*,3$'"%'$%//$.&,1%4#,'%/$,##1+$2%,$=#$4#'$=;$*':
References
>?@>.A*2*%/$?(&),%/$(.$'"#$B&)(0#%,$C,*(,$D$B&)(0#%,$E%)/*%4#,'$%,1$F(&,2*/$G#3&/%'*(,$HBFI$8($JKLM@NOOL$(.$NN$?&/;$NOOL$(,$'"#$P'%'&'#$.()$%$B&)(0#%,$F((0#)%'*6#$P(2*#';$HPFBI$"''0Q@@#&)D/#R:#&)(0%:#&@S#RC)*P#)6@S#RC)*P#)6:1(T&)*U>?QSQNOOLQNOVQOOOJQOONKQB8QEWX
>?@>.A*2*%/$?(&),%/$(.$'"#$B&)(0#%,$C,*(,$D$B&)(0#%,$E%)/*%4#,'$%,1$F(&,2*/$W*)#2'*6#$NOOV@YK@BF$(,$0%;4#,'$+#)6*2#+$*,$'"#$*,'#),%'*(,%/$4%)-#'Z$HE%;4#,'$P#)6*2#$W*)#2'*6#$IQ$"''0Q@@#&)D/#R:#&)(0%:#&@S#RC)*P#)6@S#RC)*P#)6:1(T&)*U>?QSQNOOVQLJ[QOOOJQOOLYQB8QEWX
NOOV@YK@BF$W*)#2'*6#$(.$'"#$B&)(0#%,$E%)/*%4#,'$%,1$F(&,2*/$"''0Q@@#&)D/#R:#&)(0%:#&@S#RC)*P#)6@S#RC)*P#)6:1(T&)*U>?QSQNOOVQLJ[QOOOJQOOLYQ\CQEWX$
]#+#//<$P*/6*($HJ[OYIQ$!"#$8%'&)%/$B2(,(4*2$>)1#)<$^#)/*,:$"''0Q@@%00)(0)*%'#D#2(,(4*2+:()3@#=((-+@,#(@,#(N:"'4<$0&=/*+"#1$*,$\&,3%)*%,$NOOK:
\_D`5$a++b#.(3&,-@$5.Dc#$C,*'#Q$d9-.)%,-$2(40/#4#,'%);$2&))#,2;$+'&1;$#R2&)+*(,$'($Pe*'b#)/%,1$HOJ:OL:DOL:OL:NOJO:I$"''0Q@@-#-.)%,-:"&@/#'(/'#+@+6%f2*g'%,&/4%,;&':"'4/:$
d()'#,<$W%6*1$HNOO[IQ$_3#,1%$.()$%$8#e$B2(,(4;<$^#))#''Dd("/#)<$NOO[:
S*#'%#)<$^#),%)1$HNOOJIQ$W*#$c#/'$1#+$]#/1#+:$W%+$_A-/h)&,3+=&2"<$_)#,%$i#)/%3$
8%3;<$S7+b/j$H8@_IQ$!"#$E%,DB&)(0#%,$E*2,*2$%,1$'"#$(0#,*,3$(.$'"#$=()1#)$JJ'"$(.$P#0'#4=#)$J[k[$<$"''0Q@@eee:=#)/*,#)D4%&#):1#@/%+b/(D,%3;@/%b+/(,%3;D#,:"'4$
894#'"<$5+'67,$HNOO[IQ$P&)6*6*,3$*,$+4%//$)#3*(,+Q$E(++*=*/*'*#+$(.$'"#$l_,'m$F((0#)%'*6#$P(2*#';$4(1#/$*,$0)#+#,'$'*4#+$"''0Q@@eee:+b()3(+:"&@*,1#R:0"0T(0'*(,U2(4g2(,'#,'n6*#eU%)'*2/#n*1UNJn5'#4*1UNL
8()'"<$E#'#)$HNOOYIQ$F(,+')&2'*,3$F*6*/$P(2*#';T$D$])##,$`(,#;$*,$!)%,+*'*(,$\&,3%);<$G#6:$(.$5,':$E(/:$B2(,(4;<$i(/:$JL<$8(:$J<$00:$NkDMN<Q$"''0Q@@eee:f+'():()3@+'%=/#@01.0/&+@NMJNKOYO:01.<$$$$$$$$$$
So5o:$/%e<$NOOY<$%=(&'$B&)(0#%,$F((0#)%'*6#$P(2*#'*#+<$\&,3%);$"''0Q@@eee:2(40/#R:"&@-b/1%'@'OYOOOY[:"'4@'OYOOOY[:"'4p-%3;J$$
Soooi:$S%e<$NOO[<$%=(&'$'"#$(..#)*,3$(.$0%;4#,'$+#)6*2#+<$\&,3%);$"''0Q@@eee:0+b%.:"&@1%'%@24+NOkVJ[k@NOO[gSoooi'6:01.$$
Soooi5:$S%e<$NOO[<$%=(&'$A*,%,2*%/$*,+'*'&'*(,+$%,1$A*,%,2*%/$+#)6*2#+$
Fo55$/%e<$J[[Y:$%=(&'$4(1*A*2%'*(,+$'($'"#$)#3&/%'*(,$%=(&'$0%;4#,'$*,+'*'&'*(,+$%,1$0%;4#,'$+#)6*2#+$"''0Q@@eee:0+b%.:"&@1%'%@24+NOkVJ[V@NOO[gSoooi5'6:01.
E#)-(67'b<$!%47+$HNOJOIQ$F(40/#4#,'%);$2&))#,2;$%,1$'"#$+'*4&/%'*(,$(.$/(2%/$#2(,(4;$HE)#+#,'%'*(,$3*6#,$*,$P(0)(,$(,$NV'"$`%;$NOJOI$"''0Q@@-#-.)%,-:"&@/#'(/'#+@0#)-(6%'bg'%4%+g-(b3%b1%+bg-/&=:"'4/$%,1$"''0Q@@-#-.)%,-:"&@/#'(/'#+@A*b#'(g#+b-(b&,-g%g-#-.)%,-:01.
G(=#)'+(,<$?%4#+$HNOO[IQ$`(,#;$i%/&#+$%,1$B'"*2%/$i%/&#+:$F&)*,3$'"#$`*+4%'2"$^#'e##,$!"#4:$5,Q$S%+b/($q+(/,%*$H#1I<$B'"*2%/$E)(+0#2'Q$B2(,(4;<$P(2*#';<$%,1$B,6*)(,4#,'<$P0)*,3#)$P2*#,2#D^&+*,#++$`#1*%$^i<$"''0Q@@eee:f%4#+)(=#)'+(,:2(4@%)'*2/#@4(,#;6%/&#+%,1#'"*2%/6%/&#+:01.
Pb%/%;<$q+&b+%,,%$HNOOkIQ$!"#$G#6(/&'*(,$(.$]#,'/#$`(,#;<$c()-*,3$E%0#)<$\C$5PP8$JVkYDLOLJ<$F()6*,&+$C,*6#)+*';$(.$^&1%0#+'<$5,+'*'&'#$(.$^&+*,#++$B2(,(4*2+<$"''0Q@@#1(-:/*=:&,*D2()6*,&+:"&@NkK@J@Pb%/%;[L:01.$
Pb9-#/;<$F+%=%$HNOJOIQ$F(40/#4#,'%);$F&))#,2;$%,1$'"#$P'*4&/%'*(,$(.$S(2%/$B2(,(4;$"''0Q@@-#-.)%,-:"&@/#'(/'#+@d(40/#4#,'#)g0#,bg#+g%g"#/;*g3%b1%+%3g#/#,-*'#+#:01.
i%)3%<$5+'67,$HNOJOIQ$`%)-#'$B2(,(4;$e*'"(&'$F%0*'%/*+4$HE)#+#,'%'*(,$3*6#,$*,$P(0)(,$(,$J['"$?%,&%);$NOJOI$"''0Q@@-#-.)%,-:"&@/#'(/'#+@6%)3%g*+'6%,g0*%23%b1%+%3g-%0*'%/*b4&+g,#/-&/:"'4/
Websites:
"''0Q@@eee:-#-.)%,-:"&
"''0Q@@eee:2(40/#4#,'%);2&))#,2;:()3@
"''0Q@@eee:&#%:%2:&-@#,6@*f22)@
"''0Q@@eee:f%4#+)(=#)'+(,:2(4@
"''0Q@@%/'#),%'*6D3%b1%+%3:/%0:"&@
"''0Q@@"#/;*0#,b:/*,-0%)-:"&@
r
![Page 60: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/60.jpg)
International Journal of Community Currency Research 15 (2011) D 57-60 57
Introduction
!"#$%&"'(()#*+'#$"*(,"'(+$%$-+'(."
/)012$0$(+*%&"/3%%$(/&"-/4$0$"4*-"5$$("
+$-+$,"'("6%*(/$"-'(/$"7889"'(")%,$%"+)"
/)(+%'53+$"+)"+4$",$#$2)10$(+"):"+4$"-)/'*2"*(,"
-)2',*%'+&"$/)()0&"*(,"/)(+%'53+$"+);*%,-"
-3-+*'(*52$",$#$2)10$(+<"=4$">?@"'-"+4$"%$-32+"
):"*("'(:)%0*2";)%A'(.".%)31";4)"'("BCCD"
$E*0'($,+4$",'::$%$(+"0),$2-"):"$E'-+'(."
/)012$0$(+*%&"/3%%$(/'$-"-/4$0$-"'("+4$"
;)%2,<"F+"*'0-"+)"5)+4"'(+%),3/$"*"($;"/)(/$1+"
):";$*2+4"()+"$E/23-'#$2&"5*-$,")("0)($&"*(,"
+)":)-+$%"+4$"-)/'*2"$/)()0&")%"+4'%,"-$/+)%<"
Three types of SOL
=4$">?@"G'+-"*,$H3*+$2&")(+)"+4$"/)(+$E+"):"+4$"
$E1$%'0$(+":%)0"+4$"+4'%,"-$/+)%")%"-)/'*2"
$/)()0&"+)"/%$*+$"*"/))1$%*+'#$"$E/4*(.$"
-/4$0$"):"-)/'*2"*(,"$/)2).'/*2"3-$:32($--"*(,"
+43-"/)05'($-"+4%$$"+&1$-"):">?@"'("*("
$2$/+%)('/"/*%,"IJ$2'22$"*(,"K4'+*A$%L"788MN<"
=4$-$"*%$"();",$-/%'5$,"'("+3%(<"
1. Co-operation SOL
=4$"O/)P)1$%*+')(">?@Q"'-"*"2)&*2+&"$P/*%,"
/%$*+$,"+)"1%)0)+$"+4$"-)/'*2"$/)()0&"
*/+'#'+'$-"*(,"%$-1)(-'52$"/)(-301+')(<"=4$"
/3%%$(/&"3('+"'-"'("R3%)-"IB"S"T"B8">?@N<"=4$"
/3%%$(/&"'-"2'(A$,"+)"+4$"R3%)"()+")(2&"+)"*#)',"
1%)52$0-"):"/)(#$%-')(";'+4"+'0$P5*-$,"
-/4$0$-"53+"*2-)"'(G2*+')(<">?@"'-"5*/A$,"5&"
R3%)"'(")%,$%"+)"-*:$.3*%,">?@U-"/3%%$(/&<"V3+"
+4'-"-$/3%'+&"'("R3%)"'-"2'0'+$,"5$/*3-$"*"
O-)2'-+QB"/*(()+"/)(#$%+">?@"'("R3%)<"!("
)%.*('W*+')("):"-)/'*2"$/)()0&"/*(".'#$">?@"
1)'(+-"+)"*"O-)2'-+QL";4)"/*("3-$"+4$0"*(&;4$%$"
'("+4$">?@"($+;)%AL"'<$<"'("*22")%.*('W*+')(-"):"
-)/'*2"$/)()0&";4'/4"1*%+'/'1*+$"+)">?@<"=4$"
>?@"1)'(+-"5$*%"O,$03%%*.$QX"+4$"O-)2'-+Q";4)"
,)$-"()+"3-$"4'-">?@"2)-$-"+4$0".%*,3*22&L"
;4'/4"$(/)3%*.$-"+4$"O-)2'-+Q"+)"-1$(,"+4$0"
'(-+$*,"):"-*#'(."+4$0<"=4$"/*(/$22$,">?@"
1)'(+-"*%$"'(#$-+$,"'("*"03+3*2":3(,L"0*(*.$,"
5&"*22"+4$"O-)2'-+-Q"+)"-311)%+"-)/'*2"$/)()0&"
1%)Y$/+-<"=4$"*'0"):"O,$03%%*.$Q"'-"+)"'(/%$*-$"
+4$"/'%/32*+')("#$2)/'+&"):">?@L":)-+$%"$E/4*(.$-"
*(,"*#)',"-*#'(.-"*//)%,'(."+)">'2#')"Z$-$22"
IBC[DN<
The SOL:A Complementary Currency for the Social Economy and Sustainable Development Maries Fare
University of Lyon 2, Institut des Sciences de l’Homme
International Journal of Community Currency Research
IJCCR
www.ijccr.net
Abstract
=4'-"1*1$%"%$#'$;-"$E1$%'$(/$";'+4"=4$">?@L"*"#$%& "'(()#*+'#$" *(,"'(+$%$-+'(." /)012$0$(+*%&"
/3%%$(/&" -/4$0$" ;4'/4" 4*-" 5$$(" +$-+$," '(" 6%*(/$" -'(/$" 7889<" F+" *'0-" +)" /)(+%'53+$" +)" +4$"
,$#$2)10$(+" ):" +4$" -)/'*2" *(," -)2',*%'+&" $/)()0&L" *(," /)(+%'53+$" +);*%,-" -3-+*'(*52$"
,$#$2)10$(+<" =4$" >?@" '-" +4$" %$-32+" ):" *(" '(:)%0*2" ;)%A'(." .%)31";4)" '("BCCD" $E*0'($,+4$"
,'::$%$(+"0),$2-"):" $E'-+'(." /)012$0$(+*%&"/3%%$(/'$-" -/4$0$-" '(" +4$" ;)%2,<"F+"*'0-" +)" 5)+4"
'(+%),3/$" *" ($;" /)(/$1+" ):";$*2+4" ()+" $E/23-'#$2& "5*-$," )("0)($&" *(," +)" :)-+$%" +4$" -)/'*2"
$/)()0&" )%" +4'%," -$/+)%<" =4%$$" ,'::$%$(+" +&1$-" ):" >?@" *%$" ,$-/%'5$,X" \)P)1$%*+')(" >?@L"
\)00'+0$(+" >?@L"*(,"J$,'/*+$,">?@L" *(," +4$"1*1$%"%$G2$/+-" )(" +4$" /3%%$(/&U-" -+%$(.+4-"*(,"
;$*A($--$-L"*(,",$#$2)10$(+*2"'--3$-":)%"+4$":3+3%$<
![Page 61: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/61.jpg)
International Journal of Community Currency Research 15 (2011) D 57-60 58
2. Commitment SOL
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
3. Dedicated SOL
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
SOL: A multi-actor scheme
!"#$,-.$5<33#+5=$15"#(#$)1$'2#30*)'+0;$)+$1#9#+$W3#+5"$3#6)'+1$OH;105#B$HE<)*0)+#B$A3)**0+=B$L;#$7#$W30+5#B$X)7)CY=3Z+Z#1B$T'37CY01C7#C&0;0)1$0+7$["\+#CH;2#1P$0+7$#12#5)0;;=$)+$5#3*0)+$;'50;)*)#1$)+$*"#1#$3#6)'+1$)+5;<7)+6$D'3$#40(2;#$&03"0)4B$Q3#+':;#B$.);;#B$[#++#1B$!'<;'<1#B$X<;"'<1#B$#*5?$U+*);$*"#$#+7$'D$M]]^$)*$>01$1<22'3*#7$:=$0$@<3'2#0+$23'630(B$@_UH.`B$D<+7#7$:=$*"#$@<3'2#0+$,'5)0;$W<+7?$
@_UH.$1<22'3*#7$,-.$15"#(#$<2$*'$`]a$'D$D<+7)+6$7<3)+6$#42#3)(#+*0*)'+?$W'<3$'360+)b0*)'+1$'D$1'5)0;$#5'+'(=$1<22'3*$)*$<2$*'$M]a$'D$D<+7)+6F$%&"cE<#$JZG#<+#3/$O0$>'38#3I1$5'C'2#30*)9#$0+7$'+#$'D$*"#$>'3;7I1$;#07#31$)+$9'<5"#3$)11<#$0+7$(0+06#(#+*PB$%&3Z7)*$&''2Z30*)D/$O0$5'C'2#30*)9#$:0+8PB$XH&LW$0+7$XHLW$O*>'$(<*<0;$)+1<3#31P?$X'3#'9#3B$*"#$,-.$15"#(#$'2#30*#1$)+$5';;0:'30*)'+$>)*"$(0+=$05*'31F
d !"#$'360+)b0*)'+1$'D$1'5)0;$#5'+'(=$'3$*")37$1#5*'3B$>")5"$5'<;7$:#B$:=$1*0*<*#B$5'C'2#30*)9#B$(<*<0;)1*$'3$011'5)0*)9#$0+7$>")5"$5'<;7$'DD#3$6''71$0+7e'3$1#39)5#1$01$D0)3$23'7<5*1B$'360+)5$D''71B$1';)703)*=$*'<3)1(f$!"#)3$0)($)1$*'$#+5'<306#$0+$#5'+'()5B$1<1*0)+0:;#$0+7$;'50;$7#9#;'2(#+*?$!"#$203*)5)20*)'+$'D$#05"$'360+)b0*)'+$*'$,-.$+#*>'38$3#E<)3#1$0$5#3*)K)50*)'+?$!")1$5#3*)K)50*)'+$5'+*0)+1$D'<3$53)*#3)0?$!"#$K)31*$0+7$*"#$1#5'+7$03#$3#2'3*$*'$#*")50;$0+7$1'5)0;$)11<#1$Og5'+*3):<*#$*'$0+$#5'+'(=$>"#3#$*"#$"<(0+$"01$('3#$2;05#g$0+7$g7#9#;'2)+6$7#('530*)5$0+7$5''2#30*)9#$2305*)5#1/P?$!"#$*")37$53)*#3)'+$)1$#+9)3'+(#+*0;$Og*'$5'+*3):<*#$*'$0$63##+#3$#5'+'(=/P$0+7$*"#$;01*$3#D#31$*'$;'50;$#5'+'()5$7#9#;'2(#+*$*'$gD'1*#3$*"#$53#0*)'+$'D$05*)9)*)#1B$*"#$1<1*0)+0:);)*=$'D$G':1$0+7$)+9';9#(#+*$)+$*"#$*#33)*'3=/?
d [#6)'+0;$6'9#3+(#+*$0+7$2<:;)5$0<*"'3)*)#1$>"'$1<:1)7)b#$<2$*'$S]a$0+7$<1#$,-.$15"#(#$01$0$*'';$D'3$2<:;)5$2';)5=?$!"#$)+*#630*)'+$'D$;'50;$0<*"'3)*)#1$)+$*"#$15"#(#$6)9#1$)*$0$")6";=$)++'90*)9#$7)(#+1)'+?$L+7##7B$)*$)1$303#$*"0*$;'50;$0<*"'3)*)#1$)+*#630*#$*"#1#$15"#(#1$0+7$<1#$('+#=$01$0$*'';$'D$2<:;)5$2';)5=?$L+$*")1$5'+*#4*$*"#$,-.$)1$)+$;)+#$>)*"$D'<3*"$6#+#30*)'+$15"#(#1$;)8#$TU$5037$OA;0+5$0+7$W03#B$M]h]P?$
IJC
CR
The
SO
L “The dedicated SOL has several advantages. It helps include marginalised people in a larger circuit, giving them opportunity to participate in other SOL networks and to valorise their activities and capacities. In this way, the discrimination linked to traditional social vouchers disappears.”
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International Journal of Community Currency Research 15 (2011) D 57-60 59
IJC
CR
The
SO
L ! "#$%&'(%)*+$,-'(%./$0%1,23',%340$,53$,64+.$%,'7,%'-)4+,$-'('/8,4(9,%.%54)(4*+$,9$6$+'&/$(5,4(9,346$,4,%.%54)(4*+$,*$346)'.0:,
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`%1,#a],/4(4K$0,4(9,ABC,-'Z'09)(45'0@,'($,'7,53$,9)7b)-.+5)$%,)%,5',$O&+4)(,53$,-'/&+$O)58,4(9,)(('645)'(,'7,53$,ABC,%-3$/$:,T'0,$O4/&+$@,53$,)9$4,'7,-'/*)()(K,4,-'Z'&$045)'(,ABC,R)(,U.0'%S,4(9,4,-'//)5/$(5,ABC,R*4%$9,'(,5)/$S,24%,('5,4(,$4%8,54%G,7'0,53$,&0'_$-5,4-5'0%,5',.(9$0%54(9:,X$%)9$%@,53$,-'//.()-45)'(,-4/&4)K(,0$D.)0$%,7.(9%:,N5,)%,9)7b)-.+5,5',46')9,'($,'53$0,$+$/$(5:,ABC,%-3$/$,0$D.)0$%,$+$-50'()-,5$-3('+'K8@,4%,&')(5Z'7Z%4+$,R[BAS,%-3$/$@,-3)&%,-409%,4(9,*4-GZ'7b)-$@,23)-3,('5,'(+8,0$D.$%5,b)(4(-)4+,)(6$%5/$(5,4(9,5$-3('+'K)-4+,G('2Z3'2,*.5,4+%',($$9%,5',$9.-45$,.%$0%:,F3)%,+$6$+,'7,-'/&+$O)58,4(9,b)(4(-)4+,4%&$-5,/)K35,*$,4,%50'(K,*400)$0,7'0,53$,9$6$+'&/$(5,4(9,0$&0'9.-5)'(,'7,53$,ABC,%-3$/$:,
Issues of SOL development
B($,'7,53$,/4_'0,&')(5%,'7,)(5$0$%5,4*'.5,ABC,)%,5345,)5,-'/*)($%,%$6$04+,'6$04++,'*_$-5)6$%,2)53,530$$,9)/$(%)'(%,)(-+.9)(K,53$)0,'2(,9)77$0$(5,K'4+%,RT40$@,<==HS:,N(,74-5@,)5,-'/*)($%,530$$,-'/&+$/$(5408,-.00$(-)$%,%-3$/$%,)(,4,%)(K+$,%-3$/$c,4,+'84+58,-409,&0'6)9)(K,4,&.0-34%)(K,&'2$0@,4,5)/$,$O-34(K$,%-3$/$,R4%,F)/$,*4(G%S,4(9,4,6'.-3$0:,T)0%5,'7,4++@,)5,4++'2%,5',%5)/.+45$,+'-4+,4-5)6)5)$%,4(9,5',9$6$+'&,4,%'-)4+,$-'('/8,($52'0G,4(9,)5%,4-5)6)5)$%:,X$%)9$%,53)%@,)5,&0'/'5$%,-'(%./$0,0$%&'(%)*)+)58,)(,7'%5$0)(K,+'-4+,4(9,%.%54)(4*+$,-'(%./&5)'(,R4,9$b)($9,*04(9,4(9,4,-3405$0S@,%.-3,4%,74)0,4K0)-.+5.0$@,74)0,5049$@,K''9%,4(9,%$06)-$%,&0'9.-$9,*8,+'-4+,'0K4()L45)'(%@,&.*+)-,%$06)-$%:,A$-'(9+8@,)5,455$/&5%,5',4990$%%,%'-)4+,4(9,$-'('/)-,$O-+.%)'(,*8,K)6)(K,$O-34(K$,&'%%)*)+)5)$%,)(,ABC,($52'0G,2)53,-'//)5/$(5,ABC,4(9,9$9)-45$9,ABC:,ABC,34%,4(,$-'('/)-,)/&4-5:,F3$(,)5,&0'/'5$%,4,%.%54)(4*+$,9$6$+'&/$(5,*$-4.%$,)5,$(-'.04K$%,53$,%'+)940)58,4(9,%.%54)(4*+$,*$346)'.0,'7,"%'+)%5%1:,F3$,$(6)0'(/$(54+,'*_$-5)6$,)%,5',&0'/'5$,/'0$,
-'(%)%5$(5,&04-5)-$%,2)53,53$,&0)(-)&+$%,'7,%.%54)(4*+$,9$6$+'&/$(5,*8,%5)/.+45)(K,0$%&'(%)*+$,-'(%./&5)'(:,T'0,$O4/&+$,)5,7'%5$0%,53$,9$-0$4%$,'7,$/)%%)'(%,'7,K0$$(3'.%$,K4%,$/)%%)'(%,0$+45$9,5',504(%&'05,530'.K3,53$,9$6$+'&/$(5,'7,+'-4+,&0'9.-5)'(@,4+%',530'.K3,53$,&0'/'5)'(,'7,+'-4+,&0'9.-5%@,'0K4()-,'0,('5:,ABC,)%,)(,+)($,2)53,"&'+)5)-4+,-'(%./$0)%/`%1,'*_$-5)6$%,23)-3,")%,53$,-3')-$,'7,&0'9.-$0%,4(9,&0'9.-5%,2)53,53$,4)/,'7,-34(K)(K,$53)-4++8,'0,&'+)5)-4++8,'*_$-5)'(4*+$,)(%5)5.5)'(4+,'0,/40G$5,&04-5)-$%:,F3$)0,-3')-$%,40$,)(7'0/$9,*8,455)5.9$%,4(9,64+.$%,0$K409)(K,)%%.$%,'7,_.%5)-$@,74)0($%%@,('(Z$-'('/)-,)%%.$%,5345,-'(-$0(,&$0%'(4+,4(9,74/)+8,2$++Z*$)(K@,4(9,$53)-4+,'0,&'+)5)-4+,4%%$%%/$(5,'7,746'04*+$,4(9,.(746'04*+$,*.%)($%%,4(9,K'6$0(/$(5,&04-5)-$1,Rd)-3$+$55)@,<==JS:,ABC,-4(,*$,.%$9,4%,4(,)(-$(5)6$,5',$(-'.04K$,53$,49'&5)'(,'7,4,-$054)(,58&$,'7,*$346)'.0@,3$0$@,/'0$,0$%&'(%)*+$,*$346)'.0,+)G$,%.%54)(4*+$,-'(%./&5)'(,RT40$@,<==>S:
F3$,%50$(K53,'7,ABC,)%,53$,%8($0K8,&0'9.-$9,*8,53$,/.+5)&+$%,4-5'0%:,X.5,)5,0$D.)0$%,*'53,)(-0$4%)(K,53$,9)6$0%)58,'7,*.%)($%%$%,'7,%'-)4+,$-'('/8,4(9,53$,/$/*$0%3)&,*4%$,7'0,2)9$()(K,53$,04(K$,'7,464)+4*+$,K''9%,4(9,%$06)-$%,4(9,53$,&0'6)%)'(,'7,7.(9%:,
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e$,0$/4)(%,3$+9,'(,4,&804/)9,2)53,4,%50'(K,)(b+.$(-$,'7,53$,5'&,RM3$D.$,]$_$.($0@,M0$9)5,M''&$045)6$@,d;NT,4(9,d4-)7S,9$%&)5$,-$054)(,9$-$(504+)L45)'(,45,53$,0$K)'(4+,+$6$+:,f$,-4(,53$0$7'0$,4%%./$,5345,53)%,%50.-5.0$,%'/$5)/$%,+$49%,5',+)/)5,53$,0''/,7'0,/4('$.60$,'7,5$00)5'0)$%,4(9,-'//.()-45)'(,9)7b)-.+5)$%,*$52$$(,K04%%0''5%,Rg$O&$0)/$(5$0%gS,4(9,5'&,Rg53$'0)%5%gS,)%,-4.%)(K,+4-G,'7,-'++$-5)6$,4(9,+'-4+,54G)(K,4K4)(,-'(50'+,'7,ABC:,e'2$6$0@,%)(-$,53$,$(9,'7,53$,$O&$0)/$(54+,&$0)'9,R%)(-$,53$,$(9,'7,<==hS@,53$,ABC,34%,$(5$0$9,4,($2,&34%$,'7,0$b+$-5)'(,4(9,0$'0K4()L45)'(,R%)(-$,<=I=S@,23)-3,/)K35,+$49,5',K0$45$0,70$$9'/,'7,)/&+$/$(545)'(,5$00)5'0)$%:
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International Journal of Community Currency Research 15 (2011) D 57-60 60
IJC
CR
The
SO
L Endnotes
!!"!#!$%&'$(!)!'$!*!+,-$%.!/0%!*10,-,$!(%!2345
"!6%!7.%/!(0,!1,8,&%+9,.(!*.1!(%!0*8,!9%-,!'.:%-9*('%.!%:!(0,!234!$,,!(0,!/,;$'(,<!0((+<==///5$%&>-,$,*?5%-@=
#!2,,!(0,!/,;$'(,<!0((+<==///5/,1@,A*-15A%5?7
$!2,,!(0,!/,;$'(,<!0((+<==///5.?$+**-+*$5.&
%!60,!BCD"4!E.'('*('8,!;-'.@$!:-,$0!'1,*$!(%!(0,!B?-%+,*.!B9+&%F9,.(!2(-*(,@F!*.1!(0,!2%A'*&!'.A&?$'%.!+-%A,$$5!E($!9'$$'%.!'$!(%!+-%9%(,!*!;,((,-!9%1,&!:%-!/%-7'.@!&':,!;F!G'@0('.@!1'$A-'9'.*('%.!*.1!,HA&?$'%.!%.!(0,!;*$'$!%:!@,.1,-I!-*A'*&!%-!,(0.'A!%-'@'.I!-,&'@'%.!%-!;,&',:I!1'$*;'&'(FI!*@,!%-!$,H?*&!%-',.(*('%.5
References
J&*.AI!K5!*.1!L*-,I!M5!NOPQPR!SC?,&!-T&,!+%?-!&,$!A%&&,A('8'(U$!&%A*&,$!1*.$!&*!9'$,!,.!V?8-,!1,!+-%W,($!1,!9%..*',$!$%A'*&,$!XY!ZZZ,$!K%?-.U,$!1,!&Y"$$%A'*('%.!1YBA%.%9',!2%A'*&,!N"B2R!#!6-*.$:%-9*('%.!,(!'..%8*('%.$!UA%.%9'[?,$!,(!$%A'*&,$!,.!
B?-%+,!<![?,&&,$!$%-(',$!1,!A-'$,!X!\,@*-1$!'.(,-1'$A'+&'.*'-,$!)I!%-@*.'$U,$!+*-!&,!],.(-,!E.(,-1'$A'+&'.*'-,!1,!\,A0,-A0,!6-*8*'&I!B(*(!,(!2%A'U(UI!D.'8,-$'(U!]*(0%&'[?,!1,!4%?8*'.I!]0*-&,-%'I!J,&@'[?,I!^>QP!$,+(,9;-,!OPQP5!
_,&'&&,I! 5̀!*.1!a0'(*7,-I!]5!NOPPbR!S4,!+-%W,(!234!<!+%?-!-,(-%?8,-!&,!$,.$!1,$!8*&,?-$Y5!E.!J&*.AI!K5!NB15R!M%..*',$!$%A'*&,$I!\*++%-(!BHA&?$'%.!,(!&',.$!G'.*.A',-$!OPPc=PbI!BA%.%9'A*I!`*-'$!++5deO>^f5
L*-,I!M5!NOPP^R!S4,$!9%..*',$!A%9+&U9,.(*'-,$I!1,$!%?('&$!*?!$,-8'A,!1,!&*!\2B!Xg!fh!A%.@-i$!1?!\E3__!<!g4*!\2B!<!?.,!
.%?8,&&,!-U@?&*('%.!1?!A*+'(*&'$9,g5!4'&&,I!QO!+5
L*-,I!M5!NOPPjRI!S4,!-T&,!1,$!-U$,*?H!1*.$!&*!+,-:%-9*('%.!1k?.,!'1U,!<!&k0'$(%'-,!1?!+-%W,(!234I!?.,!9%..*',!l!?('&'(U!$%A'*&,!,(!UA%&%@'[?,Y!D.+?;&'$0,1!9*$(,-Y$!1,@-,,!1'$$,-(*('%.I!D.'8,-$'(F!%:!4F%.!O5
m,$,&&I!25!NQ^O^RI!60,!n*(?-*&!BA%.%9'A!3-1,-!<!*!`&*.!(%!2,A?-,!*.!D.'.(,--?+(,1!BHA0*.@,!%:!(0,!`-%1?A($!%:!4*;%?-!oQ^QQp5!6-*.$5!`0'&'+!`F,5!J,-&'.!<!n,%>q,-&*@5
M'A0,&,(('I!M5!*.1!_',(&'.1I!25!NOPPbR!S]%.A,+(!%:!`%&'('A*&!]%.$?9,-'$9Y5!E.!4%..',I!\5!25!NB15R!r%?(0!"A('8'$9s".!
E.(,-.*('%.*&!B.AFA&%+,1'*I!q%&5!OI!m-,,./%%1!`?;&'$0'.@I!a,$(+%-(!
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International Journal of Community Currency Research 15 (2011) D 61-67 61
Introduction
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The Transition Network
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Building Local Resilience: The Emergence of the UK Transition Currencies Josh Ryan-Collins
new economics foundation
International Journal of Community Currency Research
IJCCR
Abstract
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www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 61-67 62
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s“The emphasis is very much open active local participation and identity, positivity, innovation, creativity and collective action.”
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International Journal of Community Currency Research 15 (2011) D 61-67 63
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Theoretical Roots
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Key Challenges 5
E)&'E.3%#$,$*%'1"..&%1$&#':3+*.'#"11&##'#*'73.')3#'!&&%'3#'3(3.&%&##X.3$#$%6',**8#<'E)&9')34&'6&%&.3,&/'3#,*%$#)$%6':&/$3'1*4&.36&'3%/'132,".&/',)&'2"!8$1'$:36$%3,$*%'8*138895'%3,$*%3889'3%/'$%,&.%3,$*%3889<''=*'/*"!,',)&'1*8*".7"8'3%/')$6)89'*.$6$%38'%*,&X/&#$6%')3#'2839&/'3':3+*.'23.,'$%',)$#<'E)&'H$.&1,*.'*7'>.$?,*%'E*(%'B&%,.&5'7*.'&?3:28&5'#3$/'*7',)&'>.$?,*%'0*"%/',)3,'$,')3/'S/*%&':*.&'7*.'>.$?,*%;#'.&2",3,$*%',)3%'3%9,)$%6'#$%1&',)&'
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Launch £ In Circulation 4 No. Businesses Population
Totnes March 2007 c.5000 c.70 (2008) 8,000
Lewes September 2008 (first issue), July 2009, (2nd
issue)
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
International Journal of Community Currency Research 15 (2011) D 61-67 64
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!"#$%"&#'()'*!+,%-",'./+&0+'"&'123345''6$+'7(&8(&'9(-(0#$'()'7:;<+%$='>$+-+'9-"?%(&'"@'<:@+8='$:/+'+@%";:%+8'%$+'/:!0+'()'%$+'@,$+;+'"&'%+-;@'()'A(@"%"/+';+8":',(/+-:#+'%('<+':-(0&8'B133=3335''6$+-+'"@'!"%%!+'8(0<%'()'%$+'";A:,%'%$+'@,$+;+@'$:/+'$:8'"&'%+-;@'()',-+:%"&#':'@+&@+'()',(;;0&"%C'A-"8+':&8'8"@,0@@"(&'"&'%$+')(0-':-+:@5''D(>+/+-=':'&0;<+-'()',$:!!+&#+@'$:/+'+;+-#+8')(-'%$+'@,$+;+@':&8'%$+'+?"@%"&#='EF'@%+-!"&#G<:,H+8=';(8+!5''
a) Incentives for consumers and businesses
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
N(-'<0@"&+@@+@='%$+';:"&'+,(&(;",'"&,+&%"/+')(-':,,+A%"&#'%$+',0--+&,C'"@'%$+')-++';:-H+%"&#'>$",$'"%'"@'$(A+8'>"!!'!+:8'%(':&'"&,-+:@+'"&')((%):!!5''D(>+/+-='
")'%$+';:"&'0@+-@'()'%$+',0--+&,C':-+',0@%(;+-@'>$(':!-+:8C'$(!8'%$+'/:!0+@':8/(,:%+8'<C'%$+'@,$+;+='<0@"&+@@+@';:C')++!'%$+'"&,-+:@+8')((%):!!'+))+,%'"@'&+#!"#"<!+5'O''
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
b) Social justice challenges
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International Journal of Community Currency Research 15 (2011) D 61-67 65
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
c) Financial sustainability
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
2*9#($%"#$-#<#(-#(/#$+($8(<'*-$.'3+8&$?+&$,8/"$+?$%"#$<&+,+%*+('.$'(-$38)*(#))$#(2'2#,#(%$=+&4A$$D%&+8-$*)$%"#$+(.>$*(*%*'%*9#$%+$"'9#$38*.%$*($%+$*%)$,+-#.$'$?'/*.*%>$?+&$2#(#&'%*(2$?8(-*(2$T$%"&+82"$,#,3#&)"*<$'(-$&#-#,<%*+($?##)$T$38%$'%$<&#)#(%$%"*)$-+#)$(+%$2#(#&'%#$#(+82"$?8(-*(2$%+$<'>$?+&$.'3+8&$%*,#A$
d) Measurement and Evaluation
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
e) Under-developed banking infrastructure and support
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‘volunteer fatigue’ remains a major challenge for the Transition currencies given the dependence on unpaid labour for much of the promotional and business engagement work
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f) Challenges of scale and demand
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Looking to the future
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F5 67/%&1.*)0-3.&)1%)<%');/%<)*;%)<%C-'&1/''S.)SA-'&1/''%;-.-4+%3*/0&.%.*40&12%','./;%)*%3);;/*3&4+%A4*./*%','./;%.)%&13/1.&@&'/%A-'&1/''/'%?7)%4*/%&1@)+@/0%&1%.7/%'37/;/%.)%.*40/%?&.7%/437%).7/*%410%.)%2&@/%.7/;%400&.&)14+>%1)1S&1./*/'.%A/4*&12%3*/0&.%+&1/'5%67&'%'7)-+0%4+')%&13/1.&@&'/%;)*/%+)34+%')-*3&12%)<%2))0'%410%'/*@&3/'%410%&13*/4'/%*/2&)14+%/3)1);&3%*/'&+&/13/%Y%'.-0&/'%'-22/'.%.7/%:?&''%]MI%;-.-4+%3*/0&.%'37/;/%74'%3)-1./*S3,3+&34+%(*)(/*.&/'>%<)*%/D4;(+/%K:.)00/*%!""F$5%
^5 67/%()''&A&+&.,%)<%&1./2*4.&12%')3&4+%3-**/13&/'%Y%'-37%4'%.&;/%A41B&12%)*%O=6:%Y%&1%.)%.7/%74*0%3-**/13,%;)0/+'>%.4((&12%&1%.)%(/)(+/J'%-10/*-.&+&_/0%'B&++'%410%4A&+&.&/'
1/<%K.7/%1/?%/3)1);&3'%<)-104.&)1$%410%.7/%6*41'&.&)1%`/.?)*B%74@/%*/3/1.+,%/;A4*B/0%)1%4%(*)a/3.%.)%3)10-3.%'3)(&12%*/'/4*37%)1%7)?%.)%/17413/%.7/%.*41'&.&)1%3-**/13&/'%Y%6*41'&.&)1%H-**/13&/'%!5"%S%?7&37%?&++%A/%/D4;&1&12%4%1-;A/*%)<%.7/%4A)@/%4*/4'5
Acknowledgements
67&'%(4(/*%)*&2&14./0%<*);%4%+)34+%3-**/13,%'/;&14*%)*241&'/0%A,%1/<%K.7/%1/?%/3)1);&3'%<)-104.&)1$%410%67/%6*41'&.&)1%`/.?)*B>%'-(()*./0%A,%.7/%6-0)*%6*-'.5%%]&.7%.741B'%.)%;/;A/*'%)<%.7/%:.*)-0%Q)-10>%C*&D.)1%Q)-10>%O/?/'%Q)-10%410%6).1/'%Q)-10%<)*%.7/&*%4''&'.413/%&1%24.7/*&12%&1<)*;4.&)1%<)*%.7&'%4*.&3+/%410%.)%`)/+%O)127-*'.%410%W)++,%:3)..SH4.)%<)*%3);;/1.'%)1%.7/%(4(/*5
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International Journal of Community Currency Research 15 (2011) D 61-67 67
IJC
CR
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UK
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s Endnotes
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"!"+$!,+$'!()*+$,-%(+)!+)!%&'!&(2%+$>!-)4!-(,2!+*!1$-)2(%(+)9!2''F!&%%?FGG%$-)2(%(+)%+@)2E+$/!-)4!H+.!I+?8()2!.++89!1&'!1$-)2(%(+)!I-)4.++8F!*$+,!+(<!4'?')4')0>!%+!<+0-<!$'2(<(')0'9!JK$'')!L++82!BCCMNE
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References
3(X(0!c0+)+,(02!JBCC^N!:1&'!P-)!"$-)0(20+!H'%-(<!V(X'$2(%>!P%#4>79!&%%?FGG@@@E0(X(0'0+)+,(02E0+,GP"!!f-00'22'4!Dg%&!O?$(<!BCC\h
V+449!6E!LE9!D\\e9!1&'!P+0(+<+/>!+*!=+)'>9!3-,.$(4/'F!5+<(%>i!V+#%&@-(%'!JD\\\N!1&'!c0+<+/>!+*!=+)'>9!1+%)'2F!K$'')!L++82
V+#%&@-(%'9!HE9!JD\\gN!P&+$%!3($0#(%F!P%$')/%&')()/!;+0-<!'0+)+,('2!*+$!2'0#$(%>!()!-)!#)2%-.<'!@+$<49!1+%)'2F!K$'')!L++82i!
V+#%&@-(%'9!HE9!JD\\\N!1&'!c0+<+/>!+*!=+)'>9!1+%)'2F!K$'')!L++82
K'<<'$(9!3E9!:3&(',/-#'$!H'/(+,+)'>F!1&'+$>!-)4!5$-0%(0'!+*!-!;+0-<!3#$$')0>79!a)%'$)-%(+)-<!A+#$)-<!+*!3+,,#)(%>!3#$$')0>!H'2'-$0&9!j+<!D_!JBCC\N!??E!gDb!^[
K'2'<<9!P(<X(+E!1&'!6-%#$-<!c0+)+,(0!k$4'$9!H'X(2'4!'4(%(+)E!;+)4+)F!5'%'$!k@')9!D\[ME
Z-&)9!HE!"E9!:1&'!$'<-%(+)!+*!&+,'!()X'2%,')%!%+!#)',?<+>,')%79!1&'!c0+)+,(0!A+#$)-<9!A#)'!D\_D9!j+<E!eD9!6+E!DgB!JA#)E9!D\_DN9!??E!D^_bD\M
Z'>)'29!AE=9!fD\_gh!JBCCMN!1&'!K')'$-<!1&'+$>!+*!c,?<+>,')%9!a)%'$'2%!-)4!=+)'>9!L6!5#.<(2&()/
;'>2&+)9!OE!-)4!P(/)+$'%%-9!5E!JBCCMN!:O<<!/+)'!)+@F!%&'!,-%'$(-<9!4(20#$2(X'!-)4!?+<(%(0-<!'$-2#$'!+*!.-)8!-)4!.#(<4()/!2+0('%>!.$-)0&'2!()!L$(%-()7E!O)%(?+4'9!eCF!^\QDCDE
;('%-'$9!LE9!JBCCDN!1&'!"#%#$'!+*!=+)'>F!3$'-%()/!6'@!l'-<%&9!l+$8!-)4!-!l(2'$!l+$<49!;+)4+)F!3')%#$>
P-0829!A9!JBCCBN!1&'!=+)'>!1$-(<9!O??')4(R![9!;+)4+)F!)'*!J%&'!)'@!'0+)+,(02!*+#)4-%(+)N9!??DDebDD^9!-00'22(.<'!-%!&%%?FGG@@@E)'@'0+)+,(02E+$/G/')G#?<+-42G1&']BC=+)'>]BC1$-(<E?4*!
P%+44'$9!A9!JBCC[N!H'0(?$+0-<!cR0&-)/'!6'%@+$82F!a,?<(0-%(+)2!*+$!,-0$+'0+)+,(0!2%-.(<(%>
1$-)2(%(+)!L$(2%+<9!JBCDCN!:O!L$(2%+<!5+#)4!*+$!%&'!3(%>!-)4!%&'!P+#%&@'2%79!-X-(<-.<'!-%!@@@E-/+$-2?-0'E+$/G4+0#,')%G?4*G4+0#,')%DCCBm[mDC[DE?4*!f-00'22'4!BB)4!A#)'!BCDCh
l-<8'$9!L9!I+<<()/'$9!3EP9!3-$?')%'$9!PEHE!U!Z()d(/9!OE!JBCCeN!nH'2(<(')0'9!O4-?%-.(<(%>!-)4!1$-)2*+$,-.(<(%>!()!P+0(-<!'0+<+/(0-<!2>2%',2oE!c0+<+/>!-)4!P+0('%>!\!JBN!?[E
l-$49!L9!-)4!;'@(29!AE9!JBCCBN!5<#//()/!%&'!;'-82F!,-8()/!%&'!,+2%!+*!'X'$>!?+#)4!%&-%!')%'$2!>+#$!<+0-<!'0+)+,>9!)'*!J)'@!'0+)+,(02!*+#)4-%(+)!
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International Journal of Community Currency Research 15 (2011) D 68-72 68
Introduction
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
Vermont Sustainable Exchange
9)%+.1B&'1?"&3$"+*%B$/&"&'21".1"6$%('1&?"3*/"*"+'1B"3./&'%0"2.&3",'(#+$($1&*%0",)%%$1,.$/"B'.1B">*,<".1&'"&3$"JKLM/7";'%$"%$,$1&+0?"5%'("JKKLINMMO?"&3$"9)%+.1B&'1"P)%%$1,0"Q%'G$,&""@9PQA",.%,)+*&$-"*"#*#$%?"H.*&I.//)$-"/,%.#"23.,3"3*-"+.(.&$-"/),,$//7"!&".&R/"#$*<?"&3$%$"2$%$"*>')&"JSM"#$'#+$"+./&$-"*/"($(>$%/">)&"/),,$//?"*/"-$H.1$-">0"*",'1/./&$1&"H+'2"'5",)%%$1,0?"2*/"1$=$%"*,3.$=$-"*1-"&3$"
'%B*1.C*&.'1"&''<"3)B$"*(')1&/"'5"='+)1&$$%"+*>'%"&'",''%-.1*&$7"!"F.($"9*1<"#%'G$,&"*+/'"&''<"%''&".1"9)%+.1B&'1"2.&3.1"&3$"+*/&"-$,*-$?">)&"23.+$"2$++I.1&$1&.'1$-?"2*/"/3'%&I+.=$-"-)$"&'".1,'1/./&$1,0".1"='+)1&$$%"(*1*B$($1&"*1-"5)1-.1B7"
T)%.1B"&3$"+*/&"0$*%/"'5"9)%+.1B&'1"P)%%$1,0"Q%'G$,&"@NMMUINMMOA?"&3$"9'*%-"'5"T.%$,&'%/"*1-"4&*55"'5"9PQ"*&&$(#&$-"&'"/2.&,3"9PQ"5%'("*"#*#$%"/,%.#"&'"*"()&)*+",%$-.&">*/$-"/0/&$(?".1/#.%$-">0"&3$"V8:?"WDF4?"*1-"&3$"2%.&.1B/"'5"F3'(*/"X%$,'7"T)$"&'"&3$"*(')1&"'5"#*#$%",)%%$1,0"&3*&"2*/")1&%*,$*>+$"*1-"+*,<"'5"H.1*1,.*+"%$/')%,$/?"&3$"'%B*1.C*&.'1"5'+-$-">$5'%$"B$&&.1B">$0'1-"&3$"%$/$*%,3"/&*B$"'5"&3./".-$*7"
6$%('1&"4)/&*.1*>+$"DE,3*1B$"2*/"5')1-$-">0"!(0"Y.%/,31$%".1"NMML"2.&3"&3$"B'*+"'5",%$*&.1B"*"#'+0,)+&)%$"'5",'(()1.&0",)%%$1,.$/".1"6$%('1&")/.1B"*"V8:"/&0+$"#$$%I&'I#$$%"()&)*+",%$-.&"/0/&$("*/"*">*/$7"
!(0"./"*"+'1B"&.($",'(()1.&0",)%%$1,0"*,&.=./&?"*)&3'%"*1-"#%*,&.&.'1$%7"43$"2*/"#%$=.')/+0"&3$"DE$,)&.=$"T.%$,&'%"'5"&3$"9)%+.1B&'1"P)%%$1,0"Q%'G$,&7"43$"5%$Z)$1&+0"B.=$/"#%$/$1&*&.'1/"*%')1-"'1"&3$"/)>G$,&"'5"
A Report from Vermont (USA):The VBSR Marketplace creates mutual credit at statewide levelAmy M. Kirschner
Vermont Sustainable Exchange
Abstract
!"#$%&'&()%*($+)#,(*%'-*%(.'/0'1($%'%%&(()%12%&(()%3010'/%+)(*#1%$4$1(3%-25%#-%2&()'1#2-%#-%1"(%
61'1(%27%8()32-19%:1%#$%+'//(*%1"(%8;6<%=')>(1&/'+(%'-*%#$%'-%#--2.'1#.(%&')1-()$"#&%,(15((-%'%
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+0))(-+4%*($#B-%'-*%3'-'B(3(-1%2)B'-#C'1#2-?%8()32-1%60$1'#-',/(%DE+"'-B(%@86DA9%!"#$%
&)2F(+1%#$%'%$#B-#G#+'-1%$1(&%72)5')*%#-%1"(%+2330-#14%+0))(-+4%52)/*%'$%#1%3'>($%&')1#+#&'1#2-%
#-%'%3010'/%+)(*#1%$4$1(3%'%3(3,()$"#&%,(-(G#1%72)%,0$#-($$($%1"'1%,(/2-B%12%'-%'/)('*4%(E#$1#-B%
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International Journal of Community Currency Research
IJCCR
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 68-72 69
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Vermont Business for Social Responsibility
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“...the idea of starting a community currency should not be mistaken as simply a novel approach or quick fix for a lackluster economy. Persistence in selling the benefits and educating after the business has activated their account is required and a dedicated staff is necessary.”
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International Journal of Community Currency Research 15 (2011) D 68-72 70
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International Journal of Community Currency Research 15 (2011) D 68-72 71
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Challenges
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!Figure 1: Photo Courtesy of Vermont Public Radio.
Figure 1: Vermont Public Radio employees at their 2010 listener picnic wearing t-shirts purchased through the VBSR Marketplace
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International Journal of Community Currency Research 15 (2011) D 68-72 72
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Looking Forward
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International Journal of Community Currency Research 15 (2011) D 73-76 73
Introduction
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
Person to person time banking: ‘The Traditional Model’.
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Time Banking in Social Housing:A Toolkit for Co-production in Public ServicesRuth Naughton-Doe
University of Bristol, School for Policy Studies, 8 Priory Road, Bristol, BS8 1TZ
International Journal of Community Currency Research
IJCCR
Abstract
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
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 73-76 74
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Person to agency time banking: ‘The Welsh Model’
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
Spice Innovations
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
Benefits of the Welsh Model and Spice
X!.,%$2%)9&+:)2'5%)58",.%5)5"<<%585)83'8)*%&5+$)8+)'<%$27)8.:%)('$4.$<),+%5)%$2+"&'<%)2.8.D%$5)8+)(%2+:%):+&%)'28.!%).$)83%.&)2+::"$.87)'$,).$2&%'5%5)*%+*#%C5);%##G(%.$<=))E"&83%&:+&%6);3.#58)8.:%)('$4.$<),+%5)$+8)$%2%55'&.#7)#%',)8+)2+G*&+,"28.+$6).8)3%#*5)8+)5+;)83%)5%%,5)+9),%!%#+*:%$8)HI&%<+&76)JKKLM6)
IJCCR
Tim
e B
anki
ng in
Soc
ial H
ousi
ng
![Page 78: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/78.jpg)
International Journal of Community Currency Research 15 (2011) D 73-76 75
!"#$%&''(")%!*+,$*-+$%&"%+.*$*&$./!%*)*)&"+/,$)"$!$#)0+,*)12+$3!45$6/!%*)%!2247$*-),$'&#+2$&8+/%&'+,$*-+$#)9:)%(2*)+,$&9$,(,*!)"!12+$9("#)"0$!,$*-+$*)'+$1!";$1+%&'+,$'!)",*/+!'+#$!"#$</+3!/#,=$!/+$0)8+"$(,)"0$,.!/+$%!.!%)*45$>##)*)&"!2247$!22$'+'1+/,$-!8+$&..&/*(")*)+,$*&$,.+"#$*-+)/$%/+#)*,$!"#$/),;$%&'.2+?)*)+,$!/+$/+'&8+#$!,$*-+$*/!",!%*)&"$),$"&*$1!,+#$&"$!"$)"#)8)#(!2$+?%-!"0+$1+*3++"$8(2"+/!12+$.+&.2+5$
@&3+8+/7$*-+$+8)#+"%+$,(..&/*)"0$A.)%+$),$"&*$!%!#+')%!224$/&1(,*$!"#$'&,*$&9$*-+$+8)#+"%+$),$+)*-+/$./&#(%+#$14$A.)%+$*-+',+28+,$&/$14$*-+$*-)";$*!";$*-+$B+3$C%&"&')%,$D&("#!*)&"$3-&$1&*-$-!8+$8+,*+#$)"*+/+,*,$)"$*-+$,(%%+,,$&9$*)'+$1!";)"05$A.)%+=,$!../&!%-$),$.)&"++/)"07$),$,*)22$1+)"0$#+8+2&.+#$!"#$),$("#+/$/+,+!/%-+#5$E-)2,*$./&'),)"07$*-+$+8)#+"%+$"++#,$*&$1+$/&1(,*24$,(1,*!"*)!*+#5
Spice and Housing
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
F)'+$1!";,$3+/+$,++"$!,$!$.&,,)12+$,&2(*)&"$*&$*-+,+$&(*2)"+#$./&12+',5$Q"$&/#+/$*&$1&&,*$*-+$.&,)*)8+$)'.!%*,$&9$.!/*)%).!*)&"7$*)'+$%/+#)*,$&99+/$)"%+"*)8+,$*&$.!/*)%).!*+5$>##)*)&"!2247$!$#)8+/,+$'+"($&9$3!4,$*&$+!/"$*)'+$%/+#)*,$!**/!%*,$'&/+$.+&.2+$*-!"$*-+$*/!#)*)&"!2$
8&2("*++/7$!"#$*)'+$%/+#)*,$!/+$!$3!4$&9$/+3!/#)"0$*+"!"*,5$6!/*)%).!*)&"$)"$*)'+$1!";$,%-+'+,$-!,$!22$*-+$!9&/+'+"*)&"+#$1+"+:)*,$*&$,&%)!2$+?%2(,)&"$!"#$3+22R1+)"07$!,$3+22$!,$'++*)"0$*-+$-&(,)"0$!,,&%)!*)&"=,$/+')*$&9$./&8)#)"0$,&%)!224$/+,.&",)12+$,+/8)%+,5$
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
Successes
S+,+!/%-$)"*&$*-+$-&(,)"0$!,,&%)!*)&"$),$,*)22$("#+/3!47$1(*$./+2)')"!/4$:)"#)"0,$,(00+,*$!$"('1+/$&9$1+"+:)*,$,(%-$!,$)"%/+!,+#$.!/*)%).!*)&"7$I&)"*$3&/;)"0$!"#$(.*!;+$&9$-+!2*-4$!%*)8)*)+,$!'&"0$*+"!"*,5$Q*$),$*&&$+!/24$*&$#),%(,,$%&R./&#(%*)&"$3-)%-$),$!$2&"0$*+/'$0&!27$1(*$)"%/+!,+#$.!/*)%).!*)&"$),$!$,)0"$*-!*$)*$3)22$#+8+2&.5$
U"+$,(%%+,,$-!,$1++"$3-+/+$A.)%+$-!,$)"*/&#(%+#$*-+$,4,*+'$)"*&$!$,(..&/*+#$-&(,)"0$,+/8)%+$9&/$-&'+2+,,$.+&.2+5$>/0(!124$*-+$'&,*$+?%2(#+#$)"$,&%)+*47$-&'+2+,,$.+&.2+$!/+$*/!#)*)&"!224$8+/4$#)9:)%(2*$*&$+"0!0+$)"$1&*-$8&2("*++/)"0$!"#$*+"!"*$.!/*)%).!*)&"5$V+,.)*+$1+)"0$1+"+:)%)!2$*&$-+!2*-$!"#$3+22R1+)"07$*/!#)*)&"!2$'&#+2,$&9$,+/8)%+,$-!8+$"&*$,(%%+,,9(224$+"0!0+#$*-),$0/&(.$)"$*-+,+$!%*)8)*)+,5$A.)%+$3&/;)"0$)"$!$%/+!*)8+$3!4$-!,$
IJC
CR
Tim
e B
anki
ng in
Soc
ial H
ousi
ng
“Research into the housing association is still underway, but preliminary findings suggest a number of benefits such as increased participation, joint working and uptake of healthy activities among tenants.”
![Page 79: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/79.jpg)
International Journal of Community Currency Research 15 (2011) D 73-76 76
!"!#!$#%&'$'()%*!+)%',-.%/%'012'.1/%)%,,'3%13)%'#1'41)5"#%%2'$"&'3$2#!-!3$#%'!"'#.!,'.1,#%)6'
Challenges
7.%2%'$2%'$'"5/+%2'10'-.$))%"8%,'#.$#')!%'$.%$&'012'93!-%'!"-)5&!"8'-1,#,'10'3214!&!"8'2%:$2&,'$"&'&!0(!-5)#!%,'-1//5"!-$#!"8'#.%!2'-1;321&5-#!1"'-5)#52%6''<'/12%'05"&$/%"#$)'-2!#!-!,/'!,'#.$#'93!-%'=2%&!#,'$2%'"1#'2%$))>'$'#!/%'+$"?6''7!/%'+$"?,'$!/'#1'+5!)&'3%2,1"$)'2%)$#!1",.!3,'$"&'321/1#%'-1//5"!#>',%)0;.%)3':!#.'-1//5"!#>'-522%"-!%,'10#%"'+%!"8'31)!#!-$))>'2$&!-$)'$"&'%*!,#!"8'15#,!&%'#.%'/$!",#2%$/6''@1:%4%2A'93!-%B,'/%#.1&'!,'2%/!"!,-%"#'10'+%.$4!152'/1&!(!-$#!1"'#%-."!C5%,',5-.'$,'#1?%"'%-1"1/!-,'5,%&'!"'35+)!-',%24!-%,'#1'-2%$#%',1-!$))>'&%,!2$+)%'+%.$4!152'DE$F&!"A'GHIJK6''L12'%*$/3)%A'3%13)%'1"'3,>-.!$#2!-':$2&,':%2%'8!4%"'2%:$2&,'$"&'32!4!)%8%,'012'M811&B'+%.$4!1526'7.%'"%:'5,%'10'#!/%'+$"?!"8'-15)&'+%',%%"'#1'2%3)!-$#%'#.!,'$3321$-.'$"&'2$#.%2'#.$"'-.$))%"8!"8'#.%'814%2"/%"#',>,#%/'$"&'$))1:!"8'!"&!4!&5$)'%*32%,,!1"A'!#'-15)&'+%'5#!)!,%&'#1'-2%$#%',%)0;&!,-!3)!"!"8',5+N%-#,'3%23%#5$#!"8'814%2"/%"#'4$)5%,',5-.'$,'2%&5-%&'&%3%"&%"->'$"&'.%$)#.'321/1#!"8'+%.$4!152'D,%%':12?'+>'L15-$5)#A'GHOOP'GHOHP'GHHGK6'7.%'N52>'!,'15#'1"'.1:'93!-%'13%2$#%,6
Conclusion
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
References
S14$!2&A'76'DJWWOK'MS%>1"&'%"8$8%/%"#'$"&'3$2#!-!3$#!1"V'5,%2'$"&'-1//5"!#>'-1;321&5-#!1"'10'35+)!-',%24!-%,B6'X5+)!-'<&/!"!,#2$#!1"'R%4!%:6
=$."A'U6'DJWWWK'Y1'Z12%'7.21:'<:$>'X%13)%6'U,,%"#!$)'S11?,'T#&V'Q$,.!"8#1"'[=6
=5//!",A'\6'<"&'Z!))%2A'=6'DJWWOK'M=1;321&5-#!1"A',1-!$)'-$3!#$)'$"&',%24!-%'%00%-#!4%"%,,B6'T1"&1"V']XZ6
L15-$5)#A'Z6'DGHHGK'M^14%2"/%"#$)!#>BA'336'IO_GW`'!"'S52-.%))A^6A'^12&1"A'=6'$"&'Z!))%2A'X6'D%&,6K'7.%'L15-$5)#'U00%-#V'9#5&!%,'!"'^14%2"/%"#$)!#>A'@%/%)'@%/3,#%$&V'@$24%,#%2'Q.%$#,.%$06
L15-$5)#A'Z6'DGHOOK'[!,-!3)!"%'$"&'X5"!,.V'#.%'S!2#.'10'#.%'X2!,1"6'T1"&1"V'<))%"'T$"%6
L15-$5)#A'Z6'DGHOHK'7.%'@!,#12>'10'9%*5$)!#>A'41)6'G6'<"'a"#21&5-#!1"6'T1"&1"V'<))%"'T$"%
^2%812>A'T6'DJWWHK'M=.$"8%'#$?%,'#!/%V'%*3)12!"8',#25-#52$)'$"&'&%4%)13/%"#$)'!,,5%,'10'#!/%'+$"?!"86B'a"#%2"$#!1"$)'\152"$)'10'=1//5"!#>'=522%"->'R%,%$2-.6'b1)'GcA'33'GH;cJ6
E$F&!"A'<6'DGHIJK'M7.%'#1?%"'%-1"1/>V'$'&%-$&%')$#%2B6'\152"$)'10'$33)!%&'+%.$4!152'$"$)>,!,A'GdA'33'`cG;``d6
Y%%&.$/A'=6'DJWWOK'MR%$)!,!"8'#.%'31#%"#!$)'10'-1;321&5-#!1"V'Y%81#!$#!"8'!/3214%/%"#,'!"'X5+)!-'9%24!-%,B6'91-!$)'X1)!->'$"&'91-!%#>A'OA'JA'JJG;JcG6
Y%%&.$/A'=6'DJWWHK'=1;321&5-#!1"V'$"'%/%28!"8'%4!&%"-%'+$,%'012'$&5)#',1-!$)'-$2%'#2$",012/$#!1"6'91-!$)'=$2%'a",#!#5#%'012'U*-%))%"-%%6
9%>0$"8A'^6'DJWWJK'M7$-?)!"8'91-!$)'U*-)5,!1"':!#.'-1//5"!#>'-522%"-!%,V')%$2"!"8'021/'TU79'#1'7!/%'S$"?,6B'a"#%2"$#!1"$)'\152"$)'10'=1//5"!#>'=522%"->'R%,%$2-.A'e6
9%>0$"8A'^6'DJWWc$K'MMQ!#.'$')!##)%'.%)3'021/'/>'02!%"&,6B'U4$)5$#!"8'#!/%'+$"?,'$,'$'#11)'012'-1//5"!#>',%)0;.%)3AB'T1-$)'%-1"1/>A'GIV'cA'JdO;Je`6
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International Journal of Community Currency Research 15 (2011) D 77-81 77
Introduction
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The Colours of Money:
Artmoney as Community CurrencyMark Banks
CRESC (ESRC Centre for Socio-Cultural Change) Department of Sociology, Open University, Walton Hall, Milton Keynes, MK7 6AA
International Journal of Community Currency Research
IJCCR Abstract
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Figure 1:Lars Kraemmer: ‘Celestine’ (Front and back images)
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Figure 2:Birthe Lindhart: Art Money No 177 (front and back images)
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International Journal of Community Currency Research 15 (2011) D 77-81 80
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)#*(2)#A"*C(-#()0()3*"#0)*%&"(-#($-22/0%*+($/##"0$+C(%0(*8%.(."0."(%0.*#/2"0*)3%*+()0'(=$-3'(*#)0.)$*%-0.>("0&%.)1"'(;+(K#)"22"#(2%18*(0-*(0"$"..)#%3+(;"(0"1)*"'(;+()#*2-0"+(?(;/*("08)0$"'(;+(*8"24(L/$8(')*)(!#-&%'".(-03+()(;#%",(.0)!.8-*7(;/*(./,6%$"(*-(.)+(*8"(2")0%01.()0'(/.".(-,()#*?2-0"+()#"(2)0+()0'(&)#%"'7()0'(-,*"0($-0*#)'%$*-#+(-#(#/0($-/0*"#(*-(*8"(%0*"0*%-0.(-,(%*.(,-/0'"#.(B(-01-%01(#".")#$8()%2.(*-("<!3-#"(*8"."($-2!3"<%*%".(,/#*8"#4
Discussion
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
IJC
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ours
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oney “the meanings and uses of art-
money are many and varied, and often contradictory or run counter to the intentions of its founder”
![Page 84: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/84.jpg)
International Journal of Community Currency Research 15 (2011) D 77-81 81
IJC
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E,*.,"",9*!",3*+%,0($"*,!*P#33$/B'*FLMTRG*9"#0#%4'*+"063,%$1*+/',*),'$'*+*-(+//$%4$*0,*0($*I./+'UB*+00#05&$*0(+0*-(+"+-0$"#'$'*3,&$"%*-,33$"-#+/*/#!$>*+%&*!,"-$'*+-0,"'*#%0,*),0$%0#+//1*'0#35/+0#%4*+%&*"$9+"&#%4*&#+/,45$'*0(+0*3#4(0*,0($"9#'$*%,0*0+:$*)/+-$<*V0*"$+!;#"3'*0($*7+/5$*,!*!,"3'*,!*7$"%+-5/+"*-"$+0#7#01*0(+0*-(+//$%4$*0($*+--$)0$&*.$%#4%*5%#,%*,!*-5/05"$*+%&*$-,%,31<*W#%+//1>*9$*3#4(0*+/',*'5"3#'$*0(+0*#%*!5%-0#,%#%4*+'*3,%$1>*0($*&5+/*'0+05'*,!*+"03,%$1*+'*+%*+"0*,.?$-0*#'*5%&$"/#%$&*8*!,"*#%*#0'*$!!,"0'*0,*."#%4*)$,)/$*0,4$0($"*#%*-,%-$)05+/*+%&*3+0$"#+/*$D-(+%4$>*9$*+"$*"$3#%&$&*+4+#%*,!*0($*+"0#'0#-*+%&*+$'0($0#-*+3.#0#,%'*0(+0*/#$*+0*0($*-,"$*,!*0($*)",?$-02*0(+0*#'>*0,*)",3,0$*0($*7+/5$*,!*+"0*+'*+*-,335%#-+0#7$*3$5*+%&*0,*4#"&*+%*$%&5"#%4*.$/#$!*#%*0($*+.#/#01*,!*+"0*,.?$-0'*0,*')$+:*0,*5'*+.,50*0($*,"4+%#'$&*9,"/&*9$*#%(+.#0<*
References
P#33$/>*X<*FLMTRG*IE($*K$0",),/#'*+%&*K$%0+/*Y#!$B*F,"#4#%+//1*)5./#'($&*LMNZG*#%*H,/!!>*A<*F$&<G*E($*P,-#,/,41*,!*X$,"4*P#33$/>*W"$$*J"$''>*[$9*=,":<
P#33$/>*X<*FQNNRG*E($*J(#/,',)(1*,!*K,%$1*F,"#4#%+//1*)5./#'($&*LMNOG>*Z"&*\�#,%>*],50/$&4$>*Y,%&,%<*
![Page 85: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/85.jpg)
International Journal of Community Currency Research 15 (2011) D 82-87 82
Introduction
!"#$%&'()&*%+&#',-.%/)0'&$%*"'%,#'-1%)2%3)34/)55'&/#6-%57*76-%/&'1#*%$)2*86&'9%1#$/7$$#3:%*"'%#$$7'$%631%/"6--'3:'$%*"'%(&);'/*$%/)--'/*#0'-.%26/'%#3%5''*#3:%*"'%3''1$%)2%*"'%5)0'5'3*<%!"'%#3*'3*#)3%#$%3)*%*)%56='%1#&'/*%/)5(6&#$)3$%+7*%*)%*6='%6%"#:"'&%0#'89%8#*"%/)3/&'*'%'>65(-'$<
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The Playing Field
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Complementary Currency Open Source Software in 2010 Matthew Slater
Developer of mutual_credit Drupal module and Co-founder of Community Forge
http://communityforge.net
International Journal of Community Currency Research
IJCCR
Abstract
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
www.ijccr.net
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International Journal of Community Currency Research 15 (2011) D 82-87 83
IJC
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Cyclos
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Complementary Currencies module for Drupal
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Community Forge
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Platform Developers Instances Easy set-up? URL
Cyclos JAVA 4 Many No www.cyclos.org
CES MS asp 1 200 in one Yes www.ces.org.za
CClite PERL 1 few No www.hughbarnard.org
4th Corner Exchange
Php 1 10 - 20 Yes www.fourthcornerexchange.com
Drupal/ Community Forge
Drupal 1 30 No/Yes www.drupal.org/project/mutual_credit
www.communityforge.net
Opensourcecurrency Inoshi 1 200 in one No www.opensourcecurrency.org
Table 1: Summary of Open Source currency platforms
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International Journal of Community Currency Research 15 (2011) D 82-87 84
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The Issues
1. Making software options accessible to implementers
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2. Encouraging good governance
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International Journal of Community Currency Research 15 (2011) D 82-87 85
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Figure 1: System intertrading
Figure 2: Inter-system imbalance
![Page 89: International Journal of Complementary Currency Research - Special Issue](https://reader033.vdocuments.us/reader033/viewer/2022042902/568c39e61a28ab0235a41ee7/html5/thumbnails/89.jpg)
International Journal of Community Currency Research 15 (2011) D 82-87 86
!"#$!%&'(")*+,$+#-./)0$12#)3%+45$"%'$6##+$./)0*+,$/+$-"*'$.*-"$74(8/'9$%+:$3%:#$%$8/-$/;$<)/,)#''$*+$-"*'$%)#%=$!"#4$%)#$%&-/3%-*+,$-"#$*+-#)-)%:*+,$6#-.##+$74(8/'$*+'-%+(#'$/+$:*;;#)#+-$'#)>#)'9$."*("$*'$"%):#)$6#(%&'#$-"#)#$+##:'$-/$6#$6#--#)$%&-"#+-*(%-*/+$%+:$%$)#,*'-)4$/;$<%)-*(*<%-*+,$'("#3#'=
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4. Modularisation
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5. Supporting innovation
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International Journal of Community Currency Research 15 (2011) D 82-87 87
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