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: email@example.com; Clement.MATHONNAT@udamail.fr; ** ESC Clermont, 63000 Clermont-Fd. Email: firstname.lastname@example.org.
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: email@example.com
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 is an initial response to calls for an investigation of the impact of Community Currency Systems (CCSs) on gender relations in a developing country context. It thereby proposes the question of whether or not CCSs support existing gender relations or transform them. The proposition is that the unique characteristics of a localised currency may influence a variety of economic and social characteristics in rural communities to the point where they affect the wellbeing of men and women differently. In conclusion, the research offers three learning points; firstly, the use of Seyfang’s (1997) Social Audit Approach together with gender analysis frameworks do offer a viable means of generating primary information; secondly, the two study areas show that the most obvious effect of the CCS on gender relations regards the strengthening of women’s social capital; thirdly, that the implementation of a CCS can positively influence gender relations in other areas and should be more fully investigated.
David Walker Volume 13(2009) A36-60
To cite this article: Walker, D. (2009) ‘The Impact of Community Currency Systems on Gender Relations in Rural Northeast Thailand: A Hybrid Social Audit-Gender Analysis Approach’ International Journal of Community Currency Research 13 36-60 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2009.005
The Local Exchange Trading System (LETS) is a form of local currency which is non-tangible, interest-free, freely created, and restricted to the local community. It is advocated by ‘green’ economists as a tool for enabling more sustainable economic development; that is, it is claimed to promote self-reliant communities, overcome cash scarcity (which inhibits economic activity), and incorporate environmental and socially equitable ethics. To test whether this is indeed the case, a social audit of one LETS is conducted. The case study is found to be a small, low-trading rural system with no local import-substitution and limited opportunities for the creation of new economic opportunities. However, there were large social and community benefits and a ‘warm glow’ effect associated with participation; most members were involved for these political and ethical reasons. This characteristic seems to be broadly similar to other LETS.
Gill Seyfang Volume 1(1997) 1
IJCCR vol 1 (1997) 1 Seyfang
To cite this article: Seyfang, G. (1997) ‘Examining Local Currency Systems: a social audit approach’ International Journal of Community Currency Research 1 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.1997.004