The Future is Local - Connect
How big can a local currency grow? Bernard Jarman, co-founder of the Stroud Pound, says that the Steiner-inspired Chiemgauer in Southern Germany has an annual turnover equivalent to €1/2M. 'It's a similar sized town [to Stroud] and there are 600 business involved. They're able to employ a full-time administrator to run it. If we could do that we'd have cracked it in some way.'
The Schumacher-inspired BerkShares scheme in Great Barrington, Massachusetts, is said to have the equivalent of $2M in circulation and 12 local banks issuing the money.
How else might a scheme develop? Would electronic transactions help? Could the reserve generated by a currency issue be used for ethical lending? Would making currencies more regional make them more effective? What about intra-regional trading? Would an energy-backed currency be more useful in future than one backed by a national currency such as sterling?
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