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
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.
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
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, 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
Stephen deMeulenaere Volume 13(2009) C95-98
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
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 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2009.008