Money for nothing

In countries from Africa to the Americas, in towns in Australia, Canada, England, France, Japan, Mexico, Scotland, Senegal, Switzerland, Thailand, approximately 800 communities have developed alternative money systems. Some are based on their own "dollars;" others on barter systems of exchange.

Money for nothing - The American town of Ithaca, New York, Canadian Salt Spring Island, and the city of Toronto are among the 20 estimated North American communities that currently operate their own, unique community currencies. In Britain, there are an estimated 200 local exchange and trading systems or LETS. In Australia, LETS systems have been so successful, it was said that if the global economy crashed, "Australia would be the country most likely to survive, having developed a thriving alternative economy."

Money for nothing - At the heart of any money system is "value." How is its value set? Who determines what money can buy?

The problem (and the beauty) of models like LETS or HOURS is the specifics. Therefore the answers to these questions really depend on the community implementing them. Whether a system is designed merely to increase buying power, or to put a monkey wrench into business-as-usual depends of the values and politics of those who create it.

The problem (and the beauty) of models like LETS or HOURS is the specifics. Therefore the answers to these questions really depend on the community implementing them. Whether a system is designed merely to increase buying power, or to put a monkey wrench into business-as-usual depends of the values and politics of those who create it.

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