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
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
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
Modern domestic barter systems are operating in Australia and other high income countries at the local community level, and at the national level for business exchanges. These exchange regimes appear to have become institutionalised in a macro-marketing system that is organised on the primacy of market exchange based on price as the co-ordinating device. This points to widespread imperfections in various markets at the local level, and in particular, in markets for credit and labour. In this paper, the nature of Australian community-based LETSystems is discussed and some results from a national survey in Australia of LETS members are presented. The interface between LETSystems, the federal taxation system and the social security system in Australia is introduced.
Peter W. Liesch and Dawn Birch Volume 4(2000) 2
IJCCR Vol 4 (2000) 2 Liesch and Birch
To cite this article: Liesch, P.W.; Birch, D. (2000) ‘Community-based LETSystems in Australia: Localised Barter in a Sophisticated Western Economy’ International Journal of Community Currency Research 4 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2000.005
Local Exchange and Trading Systems (LETS) are a form of not-for-profit community enterprise which have rapidly spread throughout the English-speaking industrialised nations during the 1990s. A LETS is a local association whose members list their offers of, and requests for, work in a directory and members then exchange this activity valued in a local unit of currency. However, little is known about them. Drawing upon the results of a questionnaire sent to all Australian LETS in April 1995, this paper evaluates their contributions to community development. Finding that LETS are to some extent rebuilding more localised economies, reconstructing local social networks and helping the unemployed engage in productive activity, recommendations are made about how these achievements could be further improved. However, and on a more cautionary note, questions are raised about not only the effectiveness of, but also the reasons for, the state’s support of LETS in Australia.
Colin C Williams Volume 1(1997) 3
IJCCR vol 1 (1997) 3 Williams
To cite this article: Williams, C. (1997) ‘Local Exchange and Trading Systems (LETS) in Australia: a new tool for community development?’ International Journal of Community Currency Research 1 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.1997.002