Chicago Tribune: Milwaukee neighborhoods may print own money

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[Rajiv]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

You may want to see Money and Merit

See also Open Money Manifesto

Slow Money Revolution: the global growth of local currencies

Complementary Currencies

[goadam1]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

Didn't work in the Berkshires in MA.

http://www.democraticunderground.com...ress=158x12694

[blazespinnaker]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

It's called protectionism.

It works. Especially if the local community really gets behind it. Unfortunatley, it causes a lot of friction in the general economy and an irrational allocation of resources (ie, Walmart SHOULD be beating out those local, inefficient indy stores).

[Judas]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

It's called protectionism.

If the local stores will accept both dollars and the local currency then it's really more a case of adding competition into the currency sphere.

I wonder about Gresham's Law though.

[Rajiv]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

Didn't work in the Berkshires in MA.

http://www.democraticunderground.com...ress=158x12694

The links you provided seem to suggest that it is working -- what are the links to show that it didn't work? I couldn't find any!

Here is the wiki on Berkshares


The Berkshares organization

Also a letter in the Berkshire Eagle

a short video

[sadsack]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

Didn't work in the Berkshires in MA.

http://www.democraticunderground.com...ress=158x12694

It's called protectionism.

It works. Especially if the local community really gets behind it. Unfortunatley, it causes a lot of friction in the general economy and an irrational allocation of resources (ie, Walmart SHOULD be beating out those local, inefficient indy stores).

They need to back the currency by a suitable "reserve" of psychotropic cheese, along the lines of the insular community in Herbert's The Santaroga Barrier.

"Jasper's will be served . . ."

:p

[grizam303]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

BerkShares sound good for keeping money in the local economy, but it's directly and explicitly tied to the dollar.

If there was a currency backed by commodities, then we'd be onto something. I'd play that game.

[goadam1]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

I don't think anyone takes them anymore. I think it fell apart pretty fast. google around

[goadam1]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

I was just up there this weekend.

[Rajiv]

Re: Chicago Tribune: Milwaukee neighborhoods may print own money

Looking at the businesses that had signed up -- it was a fair number of small businesses Alphabetical List

If you expect large businesses to take them, that will not happen -- this effort was always aimed at spending on small businesses, and to try to keep spending local, and to give an encourgement to small local business.

How do BerkShares benefit the local economy?

Everyone benefits from using BerkShares. Consumers benefit from receving a 10% discount on purchases. Businesses benefit from increased patronage. Local non-profit organizations can also benefit by purchasing BerkShares at the 10% discount rate and selling them at full face value to their supporters.

It will take citizens working in their own communities, region by region, to create the kind of systemic change that will lead to sustainable economic practices—practices that foster ecologically responsible production of goods and a more equitable distribution of wealth. Local currencies are a tool to bring about such change. BerkShares are about building community while building the local economy.