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: firstname.lastname@example.org; Clement.MATHONNAT@udamail.fr; ** ESC Clermont, 63000 Clermont-Fd. Email: email@example.com.
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: firstname.lastname@example.org
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
The Tianguis Tlaloc local currency system, first initiated in 1994 and re-initiated in 1996 is the one of the longest-running community currency systems in the global south. The system is a hybrid LETS-HOURS design, which is to say a system of “cheque-notes” withdrawn from accounts. At the time of writing it was the only known system of its type in the world. However, no analysis of the operation of the Tianguis Tlaloc system had been conducted, and no systematic effort to gather participant’s opinions of the Tianguis Tlaloc program had been conducted after several years of operation. Thus, a research project was proposed to analyze the operation of the system, and meet with the participants in face-to-face interviews. Both the analysis of the function of the system, and the interviews with participants provided useful information for taking the Tianguis Tlaloc from the experimentation stage to confident operation. The distinction between the Tlaloc, and the LETS/HOURS systems in the global north are also made very clear. The success of the goals of fostering mutual aid, independent self-development, pride in culture and the creation of a new socio-political space at the site of the marketplace were enhanced by the research which suggested changes to the Tlaloc system function and scope.
Luis Lopezllera-Mendez and Stephen DeMeulenaere Volume 4(2000) 4
IJCCR Vol 4 (2000) 4 Lopezllera-Mendez and DeMeulenaere
To cite this article: Lopezllera-Mendez, L.; DeMeulenaere, S. (2000) ‘Towards an Economy in the Hands of the People: The Tianguis Tlaloc Local Currency System in Mexico’ International Journal of Community Currency Research 4 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2000.003
Up until now, the vast majority of research on community currencies has focused upon their development in advanced economies. The aim of this short article, however, is to present some evidence on the growth of community currencies outside these western advanced economies. Reporting on the Global Exchange Network in Argentina, this paper shows how in just five years, this has exploded from a neighbourhood group of 20 people to a national network of 500 groups with over 230,000 participants exchanging skills, knowledge, goods and services. In so doing, it shows how “multi-reciprocal exchange”, facilitated not by Argentine Pesos but an alternative local currency, is growing in popularity not only in ‘northern’ advanced economies but also ‘southern’ nations.
Stephen DeMeulenaere Volume 4(2000) 3
IJCCR Vol 4 (2000) 3 DeMeulenaere
To cite this article: DeMeulenaere, S. (2000) ‘Reinventing the Market: Alternative Currencies and Community Development in Argentina’ International Journal of Community Currency Research 4 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2000.004