Democratizing Money: Historical Role of the U.S. Federal Government in Currency Creation

For two hundred and sixty years the US federal government has claimed that the most democratic money is a scarce form of money. This claim is built off the notion that an abundant supply of money would threaten class relations (the rights of private property) and ultimately the free flow of commerce (capitalist exchange). Since the writing of the federal constitution the government’s focus has always been on creating reliable and abundant supplies of credit. The idea of scarce money and abundant credit has been challenged twice: In the 1860’s by the Greenback Party who claimed the most democratic money is money created by government. The second challenge in the 1980s by the Community Currency movement uniquely focuses not on banks or government instead claiming that democratic money is money created by local communities and/or individuals.

Saul Wainwright

To cite this article: Wainwright, S. (2012) ‘Democratizing Money: The Historical Role of the U.S. Federal Government in Currency Creation’ International Journal of Community Currency Research 16 (D) 5-13  <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2012.007

IJCCR 2012 Wainwright

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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 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.025

Communal Currencies In Venezuela

Communal currencies, operating in ‘barter’ systems, have been introduced in Venezuela by the national government over the last few years, making them unique among contemporary alternative and complementary currencies in terms of their institutional origin. The communal currencies are an element of the Bolivarian Revolution, and an example of President Chávez’s innovative approach to the construction of ‘twentfirst century socialism’. The main ideological features of the trueke (barter) are the recovery of indigenous practices, socialism, and agroecology. There are currently 13 barter systems in the country, with a total membership of about 1,500. This relatively modest development is arguably due to socioeconomic factors such as the widespread reduction in poverty rates achieved through the regular economy. It is suggested that the future of the communal currencies depends on the broader process of building the ‘Communal State’, as well as on their relation to the state.

Kristofer Dittmer Volume 15(2011) A78-83

IJCCR 2011 Dittmer

To cite this article: Dittmer, K. (2011) ‘Communal Currencies In Venezuela’ International Journal of Community Currency Research 15 (A) 78-83 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.008

David Akin and Joel Robbins (eds) (1999) Money and Modernity: State and Local Currencies in Melanesia

Stephen deMeulenaere Volume 13(2009) C95-98

IJCCRvol13(2009)pp95-98DeMeulenaere

To cite this article: deMeulenaere, S. (2009) ‘David Akin and Joel Robbins (eds) (1999) Money and Modernity: State and Local Currencies in Melanesia’ International Journal of Community Currency Research 13 95-98 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2009.009

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

IJCCRvol13(2009)pp95-97RevDevitt

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 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2009.008

Social Economy and Central Banks: Legal and Regulatory Issues on Social Currencies (Social Money) as a Public Policy Instrument Consistent with Monetary Policy

In Brazil, the National Secretariat for Solidarity Economy has encouraged the establishment of Community Development Banks that issue “social currencies for local circulation”, and has struggled to set up a regulatory framework for the use of social currencies, by means of public policies for solidarity finance, at the federal, state, and municipal levels of governments. Can social currencies be regarded as public policy instruments compatible with monetary policy under the responsibility of central banks? With the aim of systematizing this question and allowing the Central bank of Brazil to elaborate a reference study on this subject, this essay defines social currencies on the basis of constitutional precepts; identifies and examines legal and regulatory issues and logistical and operational aspects relating to social currency systems; and investigates why social currencies should be regarded as public policy instruments for local development compatible with monetary policy.

Marusa Vasconcelos Freire Volume 13(2009) A76-94

IJCCRvol13(2009)pp76-94Freire

To cite this article: Freire, M.V. (2009) ‘Social Economy and Central Banks: Legal and Regulatory Issues on Social Currencies (Social Money) as a Public Policy Instrument Consistent with Monetary Policy’ International Journal of Community Currency Research 13 76-94 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2009.007

LETS and Benefit Claiming in the UK: Results of a Pilot Project

One of the most contentious aspects of the debate about Local Exchange and Trading Systems (LETS) concerns the benefit system. Whereas other nations have amended the rules of their social security systems in order to facilitate participation in LETS, this has not been the case in the UK. This article is based upon a short, pilot project conducted at the turn of the millennium. It involved a series of interviews with LETS members and with national politicians who had publicly expressed an interest in LETS because of the benefit implications, whether real or perceived. We found evidence of claimants either not joining LETS or, of those who did join or became claimants whilst belonging to a LETS, keeping their LETS-related activities at a modest level. LETS members are clear that the benefit system must change to accommodate their needs and interests.

Tony Fitzpatrick Volume 4(2000) 6

IJCCR Vol 4 (2000) 6 Fitzpatrick

To cite this article: Fitzpatrick, T. (2000) ‘LETS and Benefit Claiming in the UK: Results of a Pilot Project’ International Journal of Community Currency Research 4 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2000.002