Stroud Pound: A Local Currency to Map, Measure and Strengthen the Local Economy

The Stroud Pound is one of the local currencies to be set up in recent years by UK-based Transition Towns. The paper details the first two years of the life of the Stroud Pound; both its authors were closely involved in the development of the currency and the paper is therefore a view ‘from the inside’ rather than a disconnected academic account. The Stroud Pound grew out of Transition Stroud, a community-led response to climate change and peak oil. It therefore has a design that seeks to build greater resilience and strength into the local economy. In this paper the researchers use the local currency as a research tool to explore issues such as: the size of the local multiplier; extent of trade between local producers; the dynamics of the local economy; and the diverse motivations of scheme participants. The paper includes: an account of the literature on community currencies, especially the work of Silvio Gesell; a brief account of Stroud and the results of a survey conducted amongst Stroud-based businesses as part of the establishment of the Stroud Pound; an account of the first year of the Stroud Pound and its impact on the local economy.

Molly Scott Cato and Marta Suárez

To cite this article: Scott Cato, M. and Suárez, M. (2012) ‘Stroud Pound: A Local Currency to Map, Measure and Strengthen the Local Economy’ International Journal of Community Currency Research 16 (D) 106-115  <> ISSN  1325-9547

IJCCR 2012 Scott Cato Suarez


Does Demurrage matter for Complementary Currencies?

Currency with demurrage is a theoretical concept for a reform of the monopolistic issued state money originated by Silvio Gesell. Until now it has never been implemented the way it was originally intended. Based on the theory of Irving Fisher and the practical experiences during the Great Depression a demurrage-based CC could be helpful as a temporary steering instrument during economic depressions to stimulate economic activity by increasing the velocity of money (of CC and indirectly of conventional money), probably only if issued state-wide. The level of the demurrage-rate of the local issued depreciated money seems to be (based on the available data) not crucial for the economic results within the meaning of usage, turnover and velocity.

Hugo Godschalk

To cite this article: Godschalk, H. (2012) ‘Does Demurrage matter for Complementary Currencies?’ International Journal of Community Currency Research 16 (D) 58-69  <> ISSN  1325-9547

IJCCR 2012 Godschalk