Vol. 25 (Issue 1) pp. 96-106

Rethinking the significance of regional currencies: The case of the Chiemgauer

Kiminori Hayashi*

* Meiji Gakuin University, Yokohama, Japan, khayashi@k.meijigakuin.ac.jp


The target of our analysis is the Chiemgauer, a German regional currency. This paper discusses notable aspects of Rudolf Steiner’s theory of money that have not yet been discussed widely in the research on regional currencies. The objectives and structure of the Chiemgauer is examined in Section 3. Following Steiner’s views on currency, Section 4 considers the merits and demerits for consumers, stores, and groups such as nonprofit organizations that are the recipients of its benefits and then revisits the significance of regional currencies. This paper makes a distinctive academic contribution by clarifying the new significance taken on by regional currencies based on Steiner’s discussions, particularly those on gifting.

The first distinctive system design characteristic of the Chiemgauer is its relevance in the gifting process, even for those with few assets. Second, the Chiemgauer makes it easy to make voluntary gifting. Third, a system designed so that the ones actually giving the gifts are stores, and not consumers, enables the direct usage of the economic value created by the currency’s lending characteristics through the currency’s gifting characteristics. Skillfully incorporating gifting into the currency’s design makes it easier to ensure qualitative development in the region. The Chiemgauer incorporates the above ideas that go beyond increasing the velocity of currency circulation (Gesell’s idea of currency demurrage).


Chiemgauer, R. Steiner, Three Functions of Money, Aging of Money, Gifting, Qualitative Development

Article Hayashi

To cite this article:

Hayashi, K. (2021) ‘Rethinking the Significance of Regional Currencies: The Case of the Chiemgauer’ International Journal of Community Currency Research Volume 25 (Issue 1) 96-106; http://www.ijccr.net; ISSN 1325-9547; DOI http://dx.doi.org/10.15133/j.ijccr.2021.007