Timebanking, co-production and normative principles: putting normative principles into practice

September 11, 2019 IJCCR

Timebanking is a parallel currency system structured on Cahn’s normative principles of co-production (2004, 2010; Cahn & Gray, 2013). This article provides a descriptive analysis of the normative principles of co-production in timebanking in order to explore the moral commitment espoused by timebanking economies, especially in regard to reciprocity and the adoption of an asset perspective. A further strand examines the literature on timebanking outcomes for evidence of the influence of normative principles in practice. Discussion centres on the nature of co-production in timebanking, the practice of reciprocity and time exchange balances. Two distinct issues are identified in the literature that impact the actualization of the normative principles in timebanking practice: a reductionist approach to measurement of exchange, and reciprocation latency. The nature and causes of these invite further research. These issues arise from alternative interpretations of the nature of exchange in co-production in timebanking. The work is important because of the gap in community currency research in regard to how normative values, foundational to this alternative economy, are actualized. The discussion provides a summary of the influences which frame the timebanking exchange and indicates possible areas for further research.

Neville Clement, Allyson Holbrook, Daniella Forster, Johanna Macneil, Max Smith, Kevin Lyons, Elizabeth McDonald

The University of Newcastle, Australia, Email: Neville.Clement@newcastle.edu.au

Article Clement et al. pdf

To cite this article: Clement, N.; Holbrook, A.; Forster, D.; Macneil, J.; Smith, M.; Lyons, K. and McDonald, E. (2017) ‘Timebanking, co-production and normative principles: putting normative principles into practice’ International Journal of Community Currency Research 21 (Winter) 36-52 <www.ijccr.net> ISSN 1325-9547. DOI http://dx.doi.org/10.15133/j.ijccr.2017.004

Psychological factors influencing the use and development of Complementary Currencies

September 11, 2019 IJCCR

This paper presents a novel socio-psychological analysis of the motivations and experiences of mutual credit members in the United Kingdom and in the United States. Primary data comprised of interviews and participant observation, supplemented with secondary data analysis of organisation documents, and a review of the literature in psychology, sociology and economics. Group members were motivated to secure personal resilience against hardship, and the personal agency that results from this, along with the experiences of community and cultural identity positioning, motivates engagement. Consequently these groups are defined as cultural communities offering personal resilience to members through informal reciprocity. This approach, which prioritises the social aspects of exchange, has implications for the design of complementary currencies, particularly mutual credit initiatives, and demonstrates the value of engaging with the fields of psychology and sociology in developing interdisciplinary understandings of alternative economic practice.

Article Smith pdf

To cite this article: Smith, C.J. and Lewis, A. (2016) ‘Psychological Factors influencing the Use and Development of Complementary Currencies’ International Journal of Community Currency Research 20 (Summer) 2-23 <www.ijccr.net> ISSN 1325-9547. DOI http://dx.doi.org/10.15133/j.ijccr.2016.001

Classifying non-bank currency systems using web data

September 11, 2019 IJCCR

This paper develops a new classification of non-bank currency systems based on a lexical analysis from French-language web data in order to derive an endogenous typology of monetary projects, based on how these currencies are depicted on the internet. The advantage of this method is that it by-passes problematic issues currently found in the literature to uncover a clear classification of non-bank currency systems from exogenous elements. Our textual corpus consists of 320 web pages, corresponding to 1,210 text pages. We first apply a downward hierarchical clustering method to our data, which enables us to endogenously derive five different classes and make distinctions among non-bank currency system and between these and the standard monetary system. Next, we perform a similarity analysis. Our results show that all non-bank currency systems define themselves in relation to the standard monetary system, with the exception of Local Exchange Trading Systems.

Ariane Tichit*, Clément Mathonnat*, Diego Landivar**

* Clermont University, Auvergne University, CNRS, UMR 6587, CERDI, F-63009 Clermont Fd. Email: ariane.tichit@udamail.f; Clement.MATHONNAT@udamail.fr; ** ESC Clermont, 63000 Clermont-Fd. Email: diego.landivar@france-bs.com.

Keywords

non-bank money, text mining, web data, downward hierarchical clustering, similarity analysis

Article Tichit pdf

To cite this article: Tichit, A., Mathonnat, C., and Landivar, D. (2016) ‘Classifying non-bank currency systems using web data’ International Journal of Community Currency Research 20 (Summer) 24-40 <www.ijccr.net> ISSN 1325-9547. http://dx.doi.org/10.15133/j.ijccr.2016.002

The “commodity – money – commodity” Mutual Credit Complementary Currency System. Marxian money to promote community trade and market economy

September 11, 2019 IJCCR

Samo Kavčič

Šercerjeva ul.26, 4240 Radovljica, Slovenia. E-mail: kavcic917@gmail.com

Abstract

The Mutual Credit Currency System, this most radical form of endogenous money, was evaluated and compared with Marx’s Commodity-Money-Commodity requirement. A simple simulation of a small community closed loop economy was used to illustrate the functioning of two types of mutual credit currency systems. The first, dubbed MCSG, behaved according to the specifications and recommendations of the mutual credit currency system’s founding fathers, Riegel and Greco. The second, dubbed the Komoko Monetary System, or abbreviated to KMS, was a sub-type of the mutual credit currency system with some additional restrictions and one additional liberty. The main restriction introduced in the KMS was that it almost exclusively supported the exchange of only newly produced goods and services. The liberty introduced is forecast-based credit allocation. It was shown that the MCSG has an inconsistency that could potentially lead to instability. The restrictions applied within the KMS can provide a remedy for this potential flaw, while at the same time rendering the KMS compliant with Marx’s requirement. The monetary control measures applicable in KMS were discussed, which guarantee robustness and stability and make KMS a true complement to the official fractional reserve banking.

Keywords

Mutual credit system , Commodity – money – commodity, Cash flow forecast, Currency circuit, Monetary control, Endogenous money

Article kavcic pdf

To cite this article: International Journal of Community Currency Research 20 (Summer) 41-53. <www.ijccr.net> ISSN 1325-9547. http://dx.doi.org/10.15133/j.ijccr.2016.003

Editorial

September 4, 2019 IJCCR

Georgina M. Gómez

Chief Editor

International Institute of Social Studies of Erasmus University Rotterdam, gomez@iss.nl

The International Journal of Community Currency Research was founded 23 years ago, when researchers on this topic found a hard time in getting published in other peer reviewed journals. In these two decades the academic publishing industry has exploded and most papers can be published internationally with a minimal peer-review scrutiny, for a fee. Moreover, complementary currency research is not perceived as extravagant as it used to be, so it has now become possible to get published in journals with excellent reputation.

In that context, the IJCCR is still the first point of contact of practitioners and new researchers on this topic. It offers open access, free publication, and it is run on a voluntary basis by established scholars in the field. In any of the last five years, it has received about 25000 views. The figure seems minuscule in comparison with the numbers Internet has got us used to, but it shows the importance of the IJCCR as the key outlet for research on complementary currency systems. IJCCR now counts over 190 articles with research on all continents.

The IJCCR is currently under scrutiny to be listed in Scopus, so we need to keep this effort going. We invite researchers to disseminate their work through this journal and welcome articles of scientific quality that present a well-argued proposition, an explicit dialogue with theories, and the work of other scholars in the field.

The IJCCR is the main academic publication of the Research Network on Monetary Innovation and Complementary and Community Currencies (Ramics.org), which is still working on establishing itself as the referent organisation in the field. We hope you enjoy this new summer issue.

Read as pdf Editorial

Key Factors for the Durability of Community Currencies: An NPO Management Perspective

September 4, 2019 IJCCR

Jeremy September

Tohoku University Graduate School of Economics and Management in Sendai, Japan; jeremyseptember@gmail.com

Abstract

This paper investigates key factors for the durability of community currencies (CCs) by conducting a comparative dual case study on two long lived CCs in Japan. CCs both in Japan and abroad have exhibited effectiveness in developing social capital however the literature reveals a lack of academic research on the management or operation of CCs. Therefore this paper aims to identify key factors for the durability of CCs that could contribute to the development of a best practices model for social entrepreneurs. A secondary purpose is to add to the English body of knowledge on Japanese CC systems. Two contrasting Japanese CC organizations that have operated for more than a decade are investigated in depth. This entailed gathering both qualitative and quantitative data from both organizations and analyzing the data within a Nonprofit Organization (NPO) management framework. The results reveal five key durability factors: creating value and utility for stakeholders, appealing to the local solidarity of businesses, the receptiveness of businesses towards CCs, partnering with a corporation or larger institution and solid organizational structure. The main implication of these factors is that successfully engaging external stakeholders is crucial to sustaining the operations of a CC organization.

Keywords

Community currency, durability factors, stakeholders, best practices framework.

Article September

To cite this article: September, J. (2019) ‘Key factors for the durability of community currencies: an NPO management perspective’ International Journal of Community Currency Research 23 Issue 2 (Summer 2019) 17-34; http://www.ijccr.net; ISSN 1325-9547; DOI http://dx.doi.org/10.15133/j.ijccr.2019.011

Sidechain and volatility of cryptocurrencies based on the blockchain technology

September 4, 2019 IJCCR

Olivier Hueber

Université Côte d’Azur, CNRS-GREDEG; France; olivier.hueber@univ-cotedazur.fr

Abstract

A cryptocurrency market based on the blockchain technology is characterized by the coexistence of a steady-state supply and a volatile e-money’s demand. In this study a cointegration test establishes a long-run relationship between the internal demand of Bitcoins and prices. From this result, we propose to restrain the intrinsic volatility of any cryptocurrency based on the Blockchain technology by introducing a sidechain pegged to the parent chain.

Keywords

Sidechain, Community currencies, Blockchain, Bitcoin, Demurrage, cryptocurrencies

Article Hueber

To cite this article: Hueber, O. (2019) ‘Sidechain and volatility of cryptocurrencies based on the blockchain technology’ International Journal of Community Currency Research 23 Issue 2 (Summer 2019) 35-44; http://www.ijccr.net; ISSN 1325-9547; DOI http://dx.doi.org/10.15133/j.ijccr.2019.012

Transforming or reproducing an unequal economy? Solidarity and inequality in a community currency

September 4, 2019 IJCCR

Ester Barinaga

Lund University, Sten K. Johnson Centre for Entrepreneurship at the Dept. of Business Administration, School of Economics and Management; Sweden; ester.barinaga@fek.lu.se

Abstract

Building on empirical material from 6 months ethnographically inspired fieldwork in Málaga Común, a mutual credit community currency in Southern Spain, the paper uses Ostrom’s (1991) theoretical framework on common-pool resources to look deeper into the provision and appropriation dynamics in the currency scheme. Particular attention is put into the sources of inequality in members’ provision and appropriation capacities. Findings suggest that, embedded as community currencies are in the conventional economy, the sources of inequality from the conventional economy are also brought into the community currency. More particularly, private ownership and specialised complex skills lie behind members’ unequal capacity to earn community currency in relation to their spending needs. The paper ends by outlining some elements that would need attention when designing the governance institutions of community currency schemes that aim to overcome the inequality brought in by these currencies’ embeddedness in the conventional economy.

Keywords

Mutual credit currency, inequality, Ostrom, resource system vs. flow of resource units; provision/appropriation ratio, common-pool resource.

Article Barinaga

To cite this article: Barinaga, E (2019) ‘Transforming or reproducing an unequal economy? Solidarity and inequality in a community currency’ International Journal of Community Currency Research 23 Issue 2 (Summer 2019) 2-16; http://www.ijccr.net; ISSN 1325-9547; DOI http://dx.doi.org/10.15133/j.ijccr.2019.010

New Issue IJCCR

April 2, 2019 IJCCR

Dear readers

The Winter edition of the IJCCR No. 23 is now online!

This is the first issue to be published completely in Spanish and Portuguese (except for the Editorial by guest editor, Filipe Alvez). It collects papers presented at the 4th International Conference on Social and Complementary Currencies “Money, Awareness and Values for Social Change” held between 10th and 14th May 2017. The Conference was organised by Dr. August Corrons at the Universitat Oberta de Catalunya (UOC) in Barcelona, Spain.

Enjoy the reading!

Dr. Georgina M. Gómez, Chief Editor