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

Advertisements

Stroud Pound: A Local Currency to Map, Measure and Strengthen the Local Economy

The Stroud Pound is one of the local currencies to be set up in recent years by UK-based Transition Towns. The paper details the first two years of the life of the Stroud Pound; both its authors were closely involved in the development of the currency and the paper is therefore a view ‘from the inside’ rather than a disconnected academic account. The Stroud Pound grew out of Transition Stroud, a community-led response to climate change and peak oil. It therefore has a design that seeks to build greater resilience and strength into the local economy. In this paper the researchers use the local currency as a research tool to explore issues such as: the size of the local multiplier; extent of trade between local producers; the dynamics of the local economy; and the diverse motivations of scheme participants. The paper includes: an account of the literature on community currencies, especially the work of Silvio Gesell; a brief account of Stroud and the results of a survey conducted amongst Stroud-based businesses as part of the establishment of the Stroud Pound; an account of the first year of the Stroud Pound and its impact on the local economy.

Molly Scott Cato and Marta Suárez

To cite this article: Scott Cato, M. and Suárez, M. (2012) ‘Stroud Pound: A Local Currency to Map, Measure and Strengthen the Local Economy’ International Journal of Community Currency Research 16 (D) 106-115  <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2012.017

IJCCR 2012 Scott Cato Suarez

Time Banking in Social Housing

A social enterprise Spice has pioneered a new method of time banking that works with public services in an innovative way. Spice uses time banking as a ‘means to an end tool’ to promote active citizenship, reduce welfare dependency and ultimately reform public services with co-production. This article briefly examines current time banking practices in the UK to set the scene for a discussion of Spice’s approach when applied in Social Housing. Whilst in its early stages, the approach demonstrates some success in increasing participation and improving both individual and community well-being. This is an exciting new use of community currencies to catalyse public sector reform.

Ruth Naughton-Doe Volume 15(2011) Special Issue D73-76

IJCCR 2011 Special Issue 14 Naughton Doe

To cite this article: Naughton-Doe, R. (2011) ‘Time Banking in Social Housing’ International Journal of Community Currency Research 15 (D) 73-76 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.025

Building Local Resilience: The emergence of the UK Transition Currencies

This paper examines the emergence of a new type of local currency – ‘Transition Currencies’ – in the United Kingdom over the past 4 years.  The Transition Currency ‘model’, shared by the initial four schemes, is explained and the theoretical roots of the schemes reviewed. The paper goes on to examine the success and limitations of the currencies and reflects on potential future developments and how the Transition currencies might upscale and deliver additional social, economic and environmental objectives.

Josh Ryan-Collins Volume 15(2011) Special Issue D61-67

IJCCR 2011 Special Issue 12 Ryan Collins

To cite this article: Ryan-Collins, J. (2011) ‘Building Local Resilience: The emergence of the UK Transition Currencies’ International Journal of Community Currency Research 15 (D) 61-67 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.023

Josh Ryan-Collins, Lucie Stephens and Anna Coote (2008) The New Wealth Of Time: How Time Banking Helps People Build Public Services

Katharine Devitt Volume 13(2009) C95-97

IJCCRvol13(2009)pp95-97RevDevitt

To cite this article: Devitt, K. (2009) ‘Josh Ryan-Collins, Lucie Stephens and Anna Coote (2008) The New Wealth Of Time: How Time Banking Helps People Build Public Services’ International Journal of Community Currency Research 13 95-97 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2009.008

Change Takes Time: Exploring Structural and Developmental Issues of Time Banking

This paper draws out key conclusions from a recent research project into a voluntary sector time bank in the Welsh Valleys. The aim of the research was to explore the structure and organisational issues of time banks in relation to the development of co-production. Such an analysis attempts to make clear how time bank development fosters the values of co-production as is claimed by research and literature on time banks. The argument in this paper is that whilst time banks can be set-up for a range of purposes, not always tied to co-production, the practices and ideas embedded in the time bank mechanisms do gradually develop the values of co-production. However this is a slow process and requires a successful, initial time bank pilot project to encourage further support for expanding the practice. For those who advocate the development of co-production this paper provides information of time bank development which can support their efforts to promote the idea within the public sector.

Lee Gregory Volume 13(2009) A19-32

IJCCRvol13(2009)pp19-32Gregory

To cite this article:Gregory, L. (2009) ‘Change Takes Time: Exploring Structural and Developmental Issues of Time Banking’ International Journal of Community Currency Research 13 19-32 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2009.003

Peter North (2006) Alternative Currency Movements as a Challenge to Globalisation? A Case Study of Manchester’s Local Currency Networks.

Manon Boulianne Volume 12(2008) C20-23

IJCCR vol 12 (2008) review1

To cite this article: Boulianne, M. (2008) ‘Peter North (2006) Alternative Currency Movements as a Challenge to Globalisation? A Case Study of Manchester’s Local Currency Networks’ International Journal of Community Currency Research 12 20-23 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2008.003