Classifying non-bank currency systems using web data

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: ariane.tichit@udamail.f; Clement.MATHONNAT@udamail.fr; ** ESC Clermont, 63000 Clermont-Fd. Email: diego.landivar@france-bs.com.

Keywords

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

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The “commodity – money – commodity” Mutual Credit Complementary Currency System. Marxian money to promote community trade and market economy

Samo Kavčič

Šercerjeva ul.26, 4240 Radovljica, Slovenia. E-mail: kavcic917@gmail.com

Abstract

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.

Keywords

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

Kékfrank to Boost the Resilience of Locality

A small group of entrepreneurs in Sopron (Hungary), led by Tamás Perkovátz, decided in autumn of 2008, to make the local economy – which was previously famous for its grape and wine – prosper again, and to unite the economies of the area cut into three parts, belonging to three different countries. Thus they created an European Cooperative Society (SCE), that had individuals and legal entities from Hungary, Austria and Croatia as members, and the goal of the Cooperative was defined as to introduce and operate a complementary currency Kékfrank (blue franc, named for a wine variety), to be used within the region. This paper presents the European Union directives and regulations that made the creation of Kékfrank possible and finally it shows the main characteristics and possible further developments of the new currency which was born in spring of 2010 through the first official exchange.

Zsuzsanna Eszter Szalay Volume 15(2011) Special Issue D52-56

IJCCR 2011 Special Issue 10 Szalay

To cite this article: Szalay, Z.E. (2011) ‘Kékfrank to Boost the Resilience of Locality’ International Journal of Community Currency Research 15 (D) 52-56 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.021

A Theoretical Framework for Shared Monetary Governance

Shared Monetary Governance builds a framework for community level governance of money and fills part of the gap in the literature of monetary governance. The approach begins with consistent treatment by national regulatory frameworks vis-à-vis both national and non- national currency institutions. Regulatory framework tolerance is measured by equating more participatory processes with higher degrees of shared governance. The second part of Shared Monetary Governance explores internal monetary institutional governance. Consistent regulatory framework treatment, transparency, accountability and participation are then applied to all stakeholders affected by monetary functionality. This juxtaposition of governance vs. scale requires investigation of the processes used to make decisions in monetary institutions. Since no such dual-paradigmatic investigation has been undertaken, this paper asserts that metrics for such an investigation need to be developed. Shared Monetary Governance includes a methodology which operationalises the theoretical framework presented in this paper, building a case for full monetary decision-making participation.

Shira Destinie A. Jones  A23-30

To cite this article: Jones, S.D. (2011) ‘A Theoretical Framework for Shared Monetary Governance’ International Journal of Community Currency Research 15 (A) 23-30 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.003