2011 Book Review Section

Peter North (2010), Local Money (Green Books, Totnes) reviewed by Georgina Gómez C1-2

Mary Mellor (2010) The Future of Money (Pluto Press, London) reviewed by Steve Hermans C2-3

Abdalhalim Orr and Abdassamad Clarke (eds) (2009) Banking: The root cause of the injustice of our time, (Diwan Press, London) reviewed by Ben Walker C3-5

Dierdre Kent (2005) Healthy Money, Healthy Planet: Developing sustainability through new money systems (Craig Potton Publishing, Nelson NZ) reviewed by Zsuzsanna Szalay C5-6

David Halpern (2010) The Hidden Wealth of Nations (Polity Press, Cambridge) reviewed by John Riminton C7

IJCCR 2011 Book Reviews

To cite this article: ‘Book Reviews’ (2011) International Journal of Community Currency Research 15 (A) ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.010

Calgary Dollars: Economic and Social Capital Benefits

The Calgary Dollars complementary currency, which began in 1996, contributes to the knowledge of complementary currencies through repeated measurement of social and economic capital outcomes. This brief article provides a literature review and references some relevant government endorsements of complementary currency including the City of Calgary and the Alberta provincial complementary currency of 1936. Summaries of demographics and participants quotations are provided. Calgary research findings from 2002/2003, 2009, and 2010 are reviewed. Economic capital benefits are found to include complementary currency purchases as well as national currency and barter transactions resulting from Calgary Dollars participation. The findings suggest that both social and economic capital benefits are realized by Calgary Dollars participants and that benefits increase with the length of participation.

 Gerald Wheatley, Corrine Younie, Hind Alajlan, and Erin McFarlane Vol 15(2011) A84-89
To cite this article: Wheatley, G.; Younie, C.; Alajlan, H. and McFarlane, E. (2011) ‘Calgary Dollars: Economic and Social Capital Benefits’ International Journal of Community Currency Research 15 (A) 84-89 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.009

Communal Currencies In Venezuela

Communal currencies, operating in ‘barter’ systems, have been introduced in Venezuela by the national government over the last few years, making them unique among contemporary alternative and complementary currencies in terms of their institutional origin. The communal currencies are an element of the Bolivarian Revolution, and an example of President Chávez’s innovative approach to the construction of ‘twentfirst century socialism’. The main ideological features of the trueke (barter) are the recovery of indigenous practices, socialism, and agroecology. There are currently 13 barter systems in the country, with a total membership of about 1,500. This relatively modest development is arguably due to socioeconomic factors such as the widespread reduction in poverty rates achieved through the regular economy. It is suggested that the future of the communal currencies depends on the broader process of building the ‘Communal State’, as well as on their relation to the state.

Kristofer Dittmer Volume 15(2011) A78-83

IJCCR 2011 Dittmer

To cite this article: Dittmer, K. (2011) ‘Communal Currencies In Venezuela’ International Journal of Community Currency Research 15 (A) 78-83 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.008

Downtown Dollars: Community currency or discount coupon?

The literature on community currencies builds on the idea that communities can create their own currency to maintain the importance of place and build social and cultural capital.  Using interviews, questionnaires, and a survey, this case study reports on the ability of one experiment with community currency, Downtown Dollars, a scrip program in Ardmore, Pennsylvania to facilitate relationships, keep wealth local, and invigorate the community with a sense of place and pride.  The outcome that Ardmore, through its first experiment with Downtown Dollars, succeeded in adding value to the community and making people feel proud to live and shop in Ardmore is demonstrated. The study points out, however, that while Downtown Dollars met each of the program’s stated goals, it could have succeeded to a greater extent if it had incorporated larger social goals into its strategy from the outset.

Naomi Kaplan Vol 15(2011) A69-77

IJCCR 2011 Kaplan

To cite this article: Kaplan, N. (2011) ‘Downtown Dollars: Community currency or discount coupon?’ International Journal of Community Currency Research 15 (A) 69-77 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.007

Money and Participatory Governance: A review of the literature

This paper provides an overview and discussion of several important approaches to the governance of monetary systems in the light of the extent to which all stakeholders have full input into monetary decision-making processes.  Currency scale and various approaches to monetary governance are explored, identifying a number of key limitations with previous approaches and highlighting the need for a modified conceptual and theoretical framework for exploring the potential of small scale currency institutions to allow greater participatory monetary decision-making.

Shira Destinie Jones Vol 15(2011) A56-68

To cite this article: Jones, S.D. (2011) ‘Money and Participatory Governance: A review of the literature’ International Journal of Community Currency Research 15 (A) 56-68 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.006

The Burlington Currency Project: A History

Burlington Currency Project (BCP) existed for 10 years in Burlington, Vermont, USA (1997 to 2007) and administered the community currency, Burlington Bread. There were many distinct phases during the life of BCP. It started out as an adhoc group of volunteers and eventually found a level of institutional and city support before closing due to a number of factors. This history attempts to outline the thoughts and choices of the people involved in the project and results they achieved. Primary sources were examined, including meeting minutes, newsletters, directories, personal communications, newspaper articles, interviews, action research and previous classwork done by Amy Kirschner at the University of Vermont.

Amy Kirschner  A42-55

To cite this article: Kirschner, A. (2011) ‘The Burlington Currency Project: A History’ International Journal of Community Currency Research 15 (A) 42-55 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.005

Community Currency Research: An analysis of the literature

This article provides an analysis of the literature about community currencies. 1099 sources written in a variety of different languages form the basis of this study. Both empirical and theoretical contributions have been considered.  The first step is to make explicit the composition of this database. This implies that the field of research is circumscribed; the major features of community currencies are highlighted. The subsequent analysis comprises quantitative and qualitative aspects. In their evaluation, the authors demonstrate the strengths of the research carried out so far. They also show weaknesses and possibilities for future research, and make suggestions for improvements to the infrastructure of this field of research.

Rolf F.H. Schroeder, Yoshihisa Miyazaki and Marie Fare  A31-41

To cite this article: Schroeder, R.; Miyazaki, Y. and Fare, M. (2011) ‘Community Currency Research: An analysis of the literature’ International Journal of Community Currency Research 15 (A) 31-41 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.004

A Theoretical Framework for Shared Monetary Governance

Shared Monetary Governance builds a framework for community level governance of money and fills part of the gap in the literature of monetary governance. The approach begins with consistent treatment by national regulatory frameworks vis-à-vis both national and non- national currency institutions. Regulatory framework tolerance is measured by equating more participatory processes with higher degrees of shared governance. The second part of Shared Monetary Governance explores internal monetary institutional governance. Consistent regulatory framework treatment, transparency, accountability and participation are then applied to all stakeholders affected by monetary functionality. This juxtaposition of governance vs. scale requires investigation of the processes used to make decisions in monetary institutions. Since no such dual-paradigmatic investigation has been undertaken, this paper asserts that metrics for such an investigation need to be developed. Shared Monetary Governance includes a methodology which operationalises the theoretical framework presented in this paper, building a case for full monetary decision-making participation.

Shira Destinie A. Jones  A23-30

To cite this article: Jones, S.D. (2011) ‘A Theoretical Framework for Shared Monetary Governance’ International Journal of Community Currency Research 15 (A) 23-30 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.003

Time is of the Essence: The Challenges and Achievements of a Swedish Time Banking Initiative

This study focuses on the only existing time banking initiative in Sweden – TidsNätverket i Bergsjön (TNB). It explores the organization’s: 1) challenges, 2) achievements with regard to empowering its participants and creating social capital, as well as 3) if these can be attributed to TNB’s use of time banking. The semi-structured interviews and studies of documentation that were carried out in 2008 have been supplemented with additional information derived from the author’s personal experience of being a member of TNB.  TNB has faced problems concerning the way that the time credit system functions as well as regarding a lack of long term participants, time shortages and segregation among some of those who partake. TNB has empowered its participants and has fostered an increase in social capital, something that can probably partially be explained by its use of time banking. The paper is concluded with some recommendations as well as some general thoughts on the future role of time banking within the Swedish welfare state.

Stefan Molnar A13-22

To cite this article: Molnar, S. (2011) ‘Time is of the Essence: The Challenges and Achievements of a Swedish Time Banking Initiative’ International Journal of Community Currency Research 15 (A) 13-22 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.002

Eco-Pesa: An Evaluation of a Complementary Currency Programme in Kenya’s Informal Settlements

The aim of the Eco-Pesa programme was to promote and facilitate environmental social service work and economic development in impoverished informal settlements (slums) through the innovative use of a complementary currency. This complementary currency, called Eco-Pesa, was backed by the national currency and introduced through the registration of 75 small local businesses, price discounting, community service work, and community events in three neighbouring informal settlements in Kongowea, Kenya. An estimated $4,176 USD worth of trading was facilitated through the circulation of only $352 USD worth of Eco-Pesa. The use of Eco-Pesa resulted in a 22% average increase in participating businesses’ incomes, the collection of 20 tonnes of waste, and the creation of three youth-led community tree nurseries. The programme was cost effective (only $4,698 USD was spent over seven months), and provided an improved mechanism for tracking development funding and increasing overall accountability. This paper presents a study of the programme, describing seven months of design, implementation and results. The successes of the Eco-Pesa programme demonstrated in these findings, indicate that complementary currencies are a valuable tool to promote development, warranting further implementation and research.

William O. Ruddick A1-12

To cite this article: Ruddick, W. (2011) ‘Eco-Pesa: An Evaluation of a Complementary Currency Programme in Kenya’s Informal Settlements’ International Journal of Community Currency Research 15 (A) 1-12 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.001