Complementary currencies and the financing of investments in long-term assets

Rolf F.H. Schroeder

Independent author, Bremen, Germany.  rolfschroeder.h@t-online.de. www.rolf-f-h-schroeder.de

Article Schroeder

The question raised in this article is whether the focus on “money”, as the key concept in the analysis of community or complementary currencies, is justified. The investigation shows that the economies which facilitate exchange with alternative currencies are also based on “capital.” In some cases, capital is created within a community or complementary currencies; in others, synergies exist between the alternative currencies and other ways of financing long-term assets like microfinancing schemes. In order to better understand the grey zones between these different spheres an all-encompassing use of the notion of “money” should be avoided.

To cite this article: Rolf E.F. Schroeder (2018) ‘Complementary Currencies and the Financing of Investments in Long-term Assets’ International Journal of Community Currency Research2018 Volume 22 (Winter) 4-14 <www.ijccr.net> ISSN 1325-9547. DOI: http://dx.doi.org/10.15133/j.ijccr.2018.002

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Las monedas locales complementarias: Modelos de orientación estratégica como política pública

Andreu Honzawa

Abstract

Las Monedas Locales Complementarias (MLC) son redes de intercambios que pueden tener muy diversas tipologías, características y objetivos. Este artículo se propone dar una visión panorámica de su implementación como política pública, utilizando un análisis comparativo de casos históricos y, sobretodo, actuales, a partir del marco analítico, basado en los Modelos de Orientación Estratégica (MOEs) a partir de dos variables clave, la intervención del sector público y de la participación del voluntariado en la gestión de las MLC.

Article Honzawa

Para citar este artículo: Honzawa, A. (2019) ‘Las monedas locales complementarias: modelos de orientación estratégica como política pública’ International Journal of Community Currency Research 23 (Winter) 20-29 <www.ijccr.net> ISSN 1325-9547. http://dx.doi.org/10.15133/j.ijccr.2019.003

Psychological factors influencing the use and development of Complementary Currencies

This paper presents a novel socio-psychological analysis of the motivations and experiences of mutual credit members in the United Kingdom and in the United States. Primary data comprised of interviews and participant observation, supplemented with secondary data analysis of organisation documents, and a review of the literature in psychology, sociology and economics. Group members were motivated to secure personal resilience against hardship, and the personal agency that results from this, along with the experiences of community and cultural identity positioning, motivates engagement. Consequently these groups are defined as cultural communities offering personal resilience to members through informal reciprocity. This approach, which prioritises the social aspects of exchange, has implications for the design of complementary currencies, particularly mutual credit initiatives, and demonstrates the value of engaging with the fields of psychology and sociology in developing interdisciplinary understandings of alternative economic practice.

Article Smith pdf

To cite this article: Smith, C.J.  and Lewis, A. (2016) ‘Psychological Factors influencing the Use and Development of Complementary Currencies’ International Journal of Community Currency Research 20 (Summer) 2-23 <www.ijccr.net>  ISSN  1325-9547. DOI http://dx.doi.org/10.15133/j.ijccr.2016.001

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

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

Vol 20 (Summer) pp. 2-23

Psychological factors influencing the use and development of Complementary Currencies

Carmen Smith, Alan Lewis

University of Bath, Claverton Down, Bath, BA27AY, United Kingdom, Email: C.J.Smith@bath.ac.uk; A.Lewis@bath.ac.uk

Abstract

This paper presents a novel socio-psychological analysis of the motivations and experiences of mutual credit members in the United Kingdom and in the United States. Primary data comprised of interviews and participant observation, supplemented with secondary data analysis of organisation documents, and a review of the literature in psychology, sociology and economics. Group members were motivated to secure personal resilience against hardship, and the personal agency that results from this, along with the experiences of community and cultural identity positioning, motivates engagement. Consequently these groups are defined as cultural communities offering personal resilience to members through informal reciprocity. This approach, which prioritises the social aspects of exchange, has implications for the design of complementary currencies, particularly mutual credit initiatives, and demonstrates the value of engaging with the fields of psychology and sociology in developing interdisciplinary understandings of alternative economic practice.

Keywords

Complementary currency, mutual credit, sustainability, reciprocity, resilience, community

Article Smith pdf

To cite this article: Smith, C; Lewis, A. (2016) ‘Psychological factors influencing the use and development of Complementary Currencies’ International Journal of Community Currency Research 20 (Summer) 2-23 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2016.001

Trophic currencies: ecosystem modeling and resilient economies

Wealth is limited. We propose that value is infinite. Any currency isolates certain forms of value to transform into wealth, but those other forms of value remain even as they are undervalued. An economic system with a single currency will only recognize a very limited set of activities as valuable. As a consequence, many of the activities that constitute a functional community, and in turn a functional economy, lie outside of the value analysis of our existing economies. In this paper we present a theoretical currency model analogous to trophic food chains. As plants, grazers, and predators all have different perspective on value and operate accordingly, so do similar distinctions exist in society. We suggest that appropriately differentiated currencies from supranational currencies to regional, sectoral and down to timebanking and nonreciprocal exchanges can help better activate the value in the world, empowering communities and economies.

Marc Brakken, Preston Austin, Stephanie Rearick and Leander Bindewald
To cite this article: Brakken, M., Austin, P., Rearick, S. and Bindewald, L. (2012) ‘Trophic currencies: ecosystem modeling and resilient economies’ International Journal of Community Currency Research 16 (D) 169-175  <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2012.023