http://www.guardian.co.uk/world/2012/sep/04/spain-euro-free-economy?newsfeed=true Local currency is one idea we are looking at in the economics work for Steady State Manchester. Local currency keeps wealth in the local economy, is not tied to speculative financial instruments or the state. It also generates local prosperity since, as in this example it means people can pay for services without having much national money – it thereby helps build resilience and reduces the impact of poverty. It has been promoted by ecological economists and by the transition movement. Schemes like LETS have not really taken off and nor have barter schemes outside exceptional situations of financial stress, but maybe their time has now come, and with some key stakeholders backing the idea, who knows. What do you think? Could we do something similar here?
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