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
Findings from a qualitative study of Time Bank members from the first Time Bank in New Zealand are reported. Using focus groups, this study identifies benefits of Time Banking in terms of physical, human, social, and cultural capital. Unlike previous research, this study explores Time Banking in a relatively affluent community thus allowing us to understand why those from other populations may participate in Time Banking. This study also identifies a range of obstacles that may prevent individuals from fully utilising Time Banking and may hinder the full development of individual Time Banks. Finally, a number of recommendations for practitioners are discussed.
Lucie Ozanne Volume 14(2010) A1-16
To cite this article: Ozanne, L. (2010) ‘Learning To Exchange Time: Benefits and Obstacles To Time Banking’ International Journal of Community Currency Research 14 (A) 1-16 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2010.002
In this article the authors report and analyze the data from an interview survey of 42 Ithaca HOURS community currency users. The theoretical context for the study is social capital, and the survey seeks to answer questions centering around the extent the interviewees participate in networks of reciprocity, trust and support. The survey results indicate that the respondents highly value their experiences buying and selling with HOURS, and that it does in fact function as a social capital resource for them. Nevertheless, on average, the respondents’ use of HOURS was modest at best, with $300 to $350, exchanged in the 12 months prior to the survey. Since the exchange in HOURS is dwarfed by the mainstream economy’s circulation of federal dollars, and since the respondents use of HOURS, on average, is only a very small part of their disposable income, the authors sought the significance of the HOURS economy in cultural and symbolic rather than material terms.
Jeffrey Jacob, Merlin Brinkerhoff, Emily Jovic and Gerald Wheatley Volume 8(2004) 4
IJCCR vol 8 (2004) 4 Jacob et al 2
To cite this article: Jacob, J.; Brinkerhoff, M.; Jovic, E.; Wheatley, G. (2004) ‘The Social and Cultural Capital of Community Currency, An Ithaca HOURS Case Study Survey’ International Journal of Community Currency Research 8 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2004.002