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: email@example.com; Clement.MATHONNAT@udamail.fr; ** ESC Clermont, 63000 Clermont-Fd. Email: firstname.lastname@example.org.
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 <www.ijccr.net> ISSN 1325-9547. http://dx.doi.org/10.15133/j.ijccr.2016.002
Šercerjeva ul.26, 4240 Radovljica, Slovenia. E-mail: email@example.com
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. <www.ijccr.net> ISSN 1325-9547. http://dx.doi.org/10.15133/j.ijccr.2016.003
According to conventional wisdom, money serves the following functions: it is a medium of exchange, a unit of account, and a store of value. However, if we broaden our perspective, we might conceive of money also as a medium of communication, as a means to either change society, or to preserve a community in the sense of “resilience” against outside threat. It is this idea, which the following article wants to further explore, against the background of the newly established regional currencies (Regionalwährungen) in Germany, Austria and Switzerland. If we are not solely occupied with the financial stability of a currency, but with how a currency can contribute to the stability and cohesion of a community and of society as a whole, then we are well advised to look at accompanying structures, physical and social, which may be subsumed under the notion of “solidarity economy”.
To cite this article: Volkmann, K, (2012) ‘Solidarity economy between a focus on the local and a global view’ International Journal of Community Currency Research 16 (D) 97-105 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2012.016
IJCCR 2012 Volkmann
This paper investigates a special form of a community currency, the German Regiogeld System, which is a private monetary system with a regional validity and a non-profit-agenda. The focus of the sociological study is on how this special money effects actions of consumers. After some general information to the Regiogeld system, it therefore describes why people use this limited and costly form of money at all, how exactly they use it and for what special patterns of usage they adopt the regional money as their own. As a result it can be demonstrated that money is evaluated concerning its functionality and its symbolism. Since Regiogeld attempts to be an efficient monetary system and a moral symbol at once, it develops a structural problem which restricts the Regiogeld’ expansion.
To cite this article: Thiel, C. (2012) ‘Moral Money – The action guiding Impact of Complementary Currencies: A Case Study at the Chiemgauer Regional money’ International Journal of Community Currency Research 16 (D) 91-96 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2012.015
IJCCR 2012 Thiel
In several places in Germany colourful slips of paper replace the Euro as a medium of exchange. These unofficial tenders German Regiogeld, a phenomenon which occurred around 2001 and spread rapidly all over Germany. It appears not only with different names but also in various forms. The article introduces this special complementary currency. It describes briefly – and from a sociological point of view – what it is, how it has originated, the actual status quo and possible future developments. It is based on my 4 year ethnographic research which was done in the context of a sociological dissertation. For this article one of my results is particular important: Regiogeld is a phenomenon which originated in the fusing of different movements, a money-reform-oriented, an esoteric and several regionalization-oriented.
Christian Thiel Volume 15(2011) Special Issue D17-21
IJCCR 2011 Special Issue 04 Thiel
To cite this article: Thiel, C. (2011) ‘Complementary Currencies in Germany: The Regiogeld System’ International Journal of Community Currency Research 15 (D) 17-21 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.015
Christian Gelleri Volume 13(2009) B61-75
To cite this article: Gelleri, C. (2009) ‘Chiemgauer Regiomoney: Theory and Practice of a Local Currency’ International Journal of Community Currency Research 13 61-75 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2009.006
The article offers an overview of local and regional exchange systems in Germany. Historic as well as present-day systems are considered. They are analysed within the context of their social environment. The paper also provides an introduction to the German literature about these systems. It will be demonstrated that practical and theoretical developments are closely interlinked.
Rolf F. H. Schroeder Volume 10(2006) A24-42
IJCCR vol 10 (2006) 4 Schroeder
To cite this article: Schroeder, R. (2006) ‘Community Exchange and Trading Systems in Germany’ International Journal of Community Currency Research 10 24-42 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2006.005