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

An Empirical Study of the Social Effects of Community Currencies

This paper introduces the concept of social support as a social effect of community currencies and explores different ways of measuring it. We used a questionnaire survey and social network analysis of transactional records to conduct a comparative case study of two community currency organizations: Ichi-Muraoka in Japan and Bytesring Stockholm (BYTS) in Sweden. Our analysis yielded the following results with respect to social support provided by community currencies: (1) while the transfer of social support by community currencies does not affect the quality of life of all users in a significant way, it makes users aware that social support can be part of their lives if they become conscious of it; and (2) community currencies are peripheral and supplementary support sources for many local residents. These results show that community currencies are effective as a system to provide social support to local residents.

Hiromi Nakazato and Takeshi Hiramoto

To cite this article: Nakazato, H. and Hiramoto, T. (2012) ‘An Empirical Study of the Social Effects of Community Currencies’ International Journal of Community Currency Research 16 (D) 124-135  <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2012.019

IJCCR 2012 Nakazato Hiramoto

Time is of the Essence: The Challenges and Achievements of a Swedish Time Banking Initiative

This study focuses on the only existing time banking initiative in Sweden – TidsNätverket i Bergsjön (TNB). It explores the organization’s: 1) challenges, 2) achievements with regard to empowering its participants and creating social capital, as well as 3) if these can be attributed to TNB’s use of time banking. The semi-structured interviews and studies of documentation that were carried out in 2008 have been supplemented with additional information derived from the author’s personal experience of being a member of TNB.  TNB has faced problems concerning the way that the time credit system functions as well as regarding a lack of long term participants, time shortages and segregation among some of those who partake. TNB has empowered its participants and has fostered an increase in social capital, something that can probably partially be explained by its use of time banking. The paper is concluded with some recommendations as well as some general thoughts on the future role of time banking within the Swedish welfare state.

Stefan Molnar A13-22

To cite this article: Molnar, S. (2011) ‘Time is of the Essence: The Challenges and Achievements of a Swedish Time Banking Initiative’ International Journal of Community Currency Research 15 (A) 13-22 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.002