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
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