Category: 21 (2017) [Summer]

A new type of money for a Mayan community to build resilience in a context of economic crisis

IJCCR

Ranulfo Paiva Sobrinho1, Claudia Maricusa Agraz Hernández2, Karla Vanessa Córdoba Brenes3, Juan Osti Sáenz2, Ademar Ribeiro Romeiro4

1Researcher at the Institute of Economics in the Campinas State University. Cidade Universitária “Zeferino Vaz” Barão Geraldo – Campinas, São Paulo, Brasil. CEP: 13083-970. Telefonista – PABX: 55 19 3521-2121. Co-founder of Sustainability.School

2Instituto EPOMEX, Universidad Autónoma de Campeche, Av. Agustín Melgar s/n entre Juan de la Barrera y Calle 20, Col. Buenavista, A.P. 24039 San Francisco de Campeche, Campeche, México. Teléfono (52) 981 8119800 ext. 62309. Fax ext. 62399.

3Co-founder of Sustainability.School. http://www.sustainability.school

4Researcher at the Institute of Economics in the Campinas State University. Cidade Universitária “Zeferino Vaz” Barão Geraldo – Campinas, São Paulo, Brasil. CEP: 13083-970. Telefonista – PABX: 55 19 3521-2121.

ABSTRACT

We present the proposal of a complementary currency, the Sodziles, to strength the local economy and social ties among the members of the Mayan community of Sodzil (Campeche, Mexico) that work in a mangrove restoration project. This project is important both for the conservation of mangroves and for the social and economic dynamics of Sodzil community. The Sodziles are backed by the restored mangrove ecosystem. We describe key local environmental, social and economic aspects, as well as the macroeconomic context within which the project is developing, specifically, the credit expansion and level of indebtedness in the various sectors of the country, and especially in Campeche State, where the restoration project is in process. From there, it was possible to identify that Mexico is close to a strong economic recession due to the high level of indebtedness of the sectors of its economy. The occurrence of this crisis may affect government funds to finance the restoration project, as well as economic activities such as construction works on which some of the Mayan descendants depend. There is no crisis yet, but it is important to consider the Sodziles as an option in case this crisis happens and also to ensure that the recovered mangroves are protected.

Article Ranulfo et al.pdf

To cite this article: Ranulfo Paiva Sobrinho et al. (2017) ‘A new type of money for a Mayan community to build resilience in a context of economic crisis’ International Journal of Community Currency Research 2017 Volume 21 (Summer) 85-97 <www.ijccr.net> ISSN 1325-9547. DOI http://dx.doi.org/10.15133/j.ijccr.2017.010

Let’s change: a critical study of the aims and practices of a local exchange trading scheme

IJCCR

Arianna Bove

School of Business and Management, Queen Mary University of London Francis Bancroft Building, Room 3.44a. Mile End Road, E1 4NS London, United Kingdom. Phone: +44 (0)20 7882 8412 Email: a.bove@qmul.ac.uk

ABSTRACT

The paper presents the findings of ethnographic research and a survey of a Local Exchange Trading Scheme in North-East London and asks the question of whether the scheme delivers on the aims and objectives of its members. The research found that whilst its members express a strong politically motivated desire for an alternative to the prevailing economic system, the LETS scheme falls short of delivering on those ambitions. The findings raise the question of whether there is anything intrinsic to this form of local community currency that leads it to be more inclusive, egalitarian and fair.

Article Bove.pdf

To cite this article: Arianna Bove (2017) ‘Let’s change: a critical study of the aims and practices of a local exchange trading scheme’ International Journal of Community Currency Research 2017 Volume 21 (Summer) 65-83 <www.ijccr.net> ISSN 1325-9547. DOI http://dx.doi.org/10.15133/j.ijccr.2017.009

Which characteristics of communities boost time-banking? A case study of the United States

IJCCR

Katerina Gawthorpe

University of Economics, Prague, W. Churchill Sq. 4, 130 67 Prague 3, Czech Republic, Email: xzimk04@vse.cz

This paper empirically examines the characteristics of communities with successful time banking schemes. Dataset for this study consists of 909 counties in the U.S, 314 of these counties employ a time-banking currency. The selected factors in this study are captured by 13 variables that affect the number of exchanged hours, namely income inequality, social security, unemployment rate, a set of poverty and income variables and various industry composition indicators. This paper aims to statistically model which specific characteristics of local communities significantly impact the number of hours exchanged. The research especially focuses on the factors of inequality and poverty. The hypothesis tests the assumption that an increase in hours exchanged corresponds to higher income inequality, higher unemployment density, and social-security benefits to constituents. The outcome of the model partially contradicts this hypothesis. The findings indicate a higher portion of impoverished, low-income families as well as an increase in the income inequality variable to negatively affect the number of hours exchanged. Oppositely, in line with previous literature, the result of the model supports joblessness and social security as positive indicators and reveals retail-trade as a significant factor for the successful operation of a time bank. More thorough examination of such findings discloses reasons behind such patterns. A suitable policy is proposed in the end of this paper.

Article Gawthorpe

To cite this article: Katerina Gawthorpe (2017) ‘Which characteristics of communities boost time-banking? Case study of the United States’ International Journal of Community Currency Research 2017 Volume 21 (Summer) 51-64 <www.ijccr.net> ISSN 1325-9547. DOI http://dx.doi.org/10.15133/j.ijccr.2017.008

Sharing is caring: Mediterranean time banking in a multidimensional crisis scenario

IJCCR

Lucía del Moral-Espín

Universidad Pablo Olavide, Seville (Spain) ldelesp@upo.es

Time banks (TB) have spread all over Europe as part of a wider expansion of alternative economic spaces. Much of the existing literature has focused on UK and US time banking models, while TBs in other regions have been overlooked. This article contributes to a feminist understanding of time banking in a crisis context and, specifically, analyses possible particularities of Mediterranean TBs on the basis of case studies from Emilia Romagna (Italy) and Andalucia (Spain). The article describes the methodology and introduces the perspectives of Feminist economics before outlining the origins and development of time banking initiatives in both countries. The second section explores the history and characteristics of the selected TBs, presenting details of their objectives, member motivations and exchanges. The discussion analyses the contributions of Feminist economics to the understanding of time banking, and the conclusion provides a summary of the most important ideas.

Article del Moral.pdf

To cite this article: Lucía del Moral-Espín (2017) ‘Sharing is Caring: Mediterranean Time Banking in a Multidimensional Crisis Scenario’ International Journal of Community Currency Research 2017 Volume 21 (Summer) 33-50 <www.ijccr.net> ISSN 1325-9547. DOI http://dx.doi.org/10.15133/j.ijccr.2017.007

What is the potential for community currencies to deliver positive public health outcomes? Case study of Time Credits in Wisbech, Cambridgeshire, UK

IJCCR

Gemma Burgess

University of Cambridge, Department of Land Economy, Cambridge Centre for Housing and Planning Research, 19 Silver Street, Cambridge, CB3 9EP, Glb36@cam.ac.uk

There is evidence that increased levels of community engagement and social participation can improve population health. Community currencies such as Time Credits are one way to support and encourage people to be more involved in their local community. As a result, they have attracted investment by local governments in the UK, with the hope of finding new ways to work with deprived communities, improve individual outcomes that lead to better health, and reduce the use of public services at a time of financial austerity.

The aim of this research was to evaluate the health related outcomes of volunteering through Time Credits in Wisbech, Cambridgeshire. The conceptual model developed during the research shows how Time Credits were expected to influence some of the social determinants of health and, by doing so, enhance health outcomes and reduce health inequalities. This in depth empirical study shows the potential of such activity to support pathways to better health, but equally demonstrates the challenges in quantifying such outcomes and in evidencing any reduction in the use of public services as a result.

Article Burgess

To cite this article: Gemma Burgess (2017) ‘What is the potential for community currencies to deliver positive public health outcomes? Case study of Time Credits in Wisbech, Cambridgeshire, UK’ International Journal of Community Currency Research 2017 Volume 21 (Summer) 19-32 <www.ijccr.net> ISSN 1325-9547. DOI http://dx.doi.org/10.15133/j.ijccr.2017.006

The bright and the dark side of virtual currencies

IJCCR

Milenko Josavac

Harderstrasse 35, 3800 Interlaken, Switzerland. E-Mail: m.josavac@gmail.com

The scope of this article is to examine the positive (bright) and negative (dark) aspects of virtual currencies by critically assessing the relevant literature. In addition, the findings from the bright and dark side are the groundwork for the discussion of how crime prevention units and financial supervisors addressed to specific issues with virtual money. On the bright side, virtual currencies can provide a reasonable level of privacy but are not fully anonymous. Second, the academic discussion about the price stability of Bitcoins is split into two opposing groups. Critics find that the decentralised feature of virtual currencies is a significant disadvantage of the technology because it seriously reduces the flexibility to respond to economic shocks. In contrast, supporters argue that centralised operations by monetary authorities are actually inducting financial instability. Third, virtual currencies charge in overall less fees for payments and achieve similar processing speed compared to electronic payment systems. On the dark side, virtual currencies mainly operate outside the banking system and do not endanger the global financial stability at this stage of development. Second, technical improvements in the technology could increase consumer protection similar to established payment services. Finally, the lack of physical contact provides more options for money laundering and tax evasion than traditional ways do. In conclusion, the global legislation is still hesitant to implement a robust regulatory framework. As such, the effect of the recent legislation by crime prevention units and financial supervisors remains toothless.

Article Josavac.pdf

To cite this article: Milenko Josavac (2017) ‘The Bright and the Dark Side of Virtual Currencies. Recent Development in Regulatory Framework’ International Journal of Community Currency Research 2017 Volume 21 (Summer) 1-18 <www.ijccr.net> ISSN 1325-9547. DOI http://dx.doi.org/10.15133/j.ijccr.2017.005