Doing it together. Studying the implementation of a new social currency in the Netherlands

In this paper we take Do it Together! (DiT), a social complementary currency (CC) project in two Dutch municipalities, as an interesting example to show how action research with actual projects in the field can add greatly to the development and proliferation of CCs. We argue that action research, collaborative learning and actively sharing the lessons learned from the experiences can help CCs become sustainable and attractive models for use as valuable social (policy) tools in the future. We first describe how the participating organisations and businesses in DiT design and implement a social currency that binds the efforts of their different policies and strategies into a unified framework. Through this co-creative design process, the partners support one another in achieving their own objectives through rewarding desired behaviours of citizens and customers. Secondly, we identify challenges at different levels – micro, meso, and macro – to which the project partners have found several creative solutions. These strategies stem from a broad range of disciplines, bringing psychological, organisational, and institutional theories together in the design process and the resulting currency program. Finally, we assert that reflection on the dynamics and underlying mechanisms of these experiences and processes through action research can enrich a comprehensive understanding and improvement of CCs.

Lydwien A. Batterink*, Edgar A.D. Kampers**, Judith C.V. van der Veer***

* Radboud University, Master student and Qoin, The Netherlands (

** Qoin, co-founder and director, The Netherlands (

*** VU University Amsterdam, PhD, The Netherlands (

Article Batterink-et-al pdf

To cite this article: Batterink, L., Kampers, E. and Van der Veer, J. (2017) ‘Doing it together. Studying the implementation of new social currency in the Netherlands’ International Journal of Community Currency Research 21 (Winter) 22-35 <> ISSN 1325-9547. DOI

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

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:

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 <> ISSN 1325-9547. DOI

Classifying non-bank currency systems using web data

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;; ** ESC Clermont, 63000 Clermont-Fd. Email:


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  <>  ISSN  1325-9547.

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

Samo Kavčič

Šercerjeva ul.26, 4240 Radovljica, Slovenia. E-mail:


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.


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. <>  ISSN  1325-9547.

Time Banking in Social Housing

A social enterprise Spice has pioneered a new method of time banking that works with public services in an innovative way. Spice uses time banking as a ‘means to an end tool’ to promote active citizenship, reduce welfare dependency and ultimately reform public services with co-production. This article briefly examines current time banking practices in the UK to set the scene for a discussion of Spice’s approach when applied in Social Housing. Whilst in its early stages, the approach demonstrates some success in increasing participation and improving both individual and community well-being. This is an exciting new use of community currencies to catalyse public sector reform.

Ruth Naughton-Doe Volume 15(2011) Special Issue D73-76

IJCCR 2011 Special Issue 14 Naughton Doe

To cite this article: Naughton-Doe, R. (2011) ‘Time Banking in Social Housing’ International Journal of Community Currency Research 15 (D) 73-76 <> ISSN  1325-9547

Josh Ryan-Collins, Lucie Stephens and Anna Coote (2008) The New Wealth Of Time: How Time Banking Helps People Build Public Services

Katharine Devitt Volume 13(2009) C95-97


To cite this article: Devitt, K. (2009) ‘Josh Ryan-Collins, Lucie Stephens and Anna Coote (2008) The New Wealth Of Time: How Time Banking Helps People Build Public Services’ International Journal of Community Currency Research 13 95-97 <> ISSN  1325-9547

Change Takes Time: Exploring Structural and Developmental Issues of Time Banking

This paper draws out key conclusions from a recent research project into a voluntary sector time bank in the Welsh Valleys. The aim of the research was to explore the structure and organisational issues of time banks in relation to the development of co-production. Such an analysis attempts to make clear how time bank development fosters the values of co-production as is claimed by research and literature on time banks. The argument in this paper is that whilst time banks can be set-up for a range of purposes, not always tied to co-production, the practices and ideas embedded in the time bank mechanisms do gradually develop the values of co-production. However this is a slow process and requires a successful, initial time bank pilot project to encourage further support for expanding the practice. For those who advocate the development of co-production this paper provides information of time bank development which can support their efforts to promote the idea within the public sector.

Lee Gregory Volume 13(2009) A19-32


To cite this article:Gregory, L. (2009) ‘Change Takes Time: Exploring Structural and Developmental Issues of Time Banking’ International Journal of Community Currency Research 13 19-32 <> ISSN  1325-9547