Post on 01-Jan-2016
Alternative Currencies: Contemporary Owenism?
Peter North, University of Liverpool
National Equitable Labour Exchange 1832-4
“All wealth proceeds from labour and knowledge. And labour and knowledge are generally renumerated according to time employed. Hence it is proposed to make time the standard or measure of wealth”
The Owenite money tree.Depression-era
stamp scrip and swaps
Silvio Gesell and rusting money.
Contemporary alternative money networks.
Argentina, mass usage
LETS, long lasting
Green Dollars/LETSStarted 1987 Vancouver Island. In the 1990s,
went worldwide, mainly anglo-saxon countries.Directory, Checkbook, accountant.Currency is green dollars or a locally identified
name. Locality is important.Denominated in national currency with hour
referent/moral economy.Ended up as seen as rather clunky, with few
practical skills available.Making too many phone calls and nothing
happening!
United States: Berkshares
• www.berkshares.org/
Trueque in Argentina
Time Money or Service Credits Money denominated in hours: one hour,
one credit.Co-production social service ethos is
crucial.Balance does not matter – generational
solidarity.Connections made by a broker and by
telephone.Usually more successful when run by a
social services agency.Unlike LETS, does reach the
poor/excluded/elderly.
Problems with Owen’s TimeBanks• The poorest need help to start.• How to differentiate between levels of efficiency.• Could not live on labour notes alone – heavily
discounted by middlemen.• Women object to shopping under the male gaze.• False exchanges that ripped the poor off.• Attacked as atheistic, communistic.• Poor regulation led to disputes between traders,
no enforcement by courts.
When they last ….. “Post-materialist utopians”, not the poor. Not generally in poor regions – alternative spaces A well rooted, committed activist with support network. Efficient and timely admin. Small number of active local members, but strong bonds
of affection/political/religious view and support. Members educated so they understand how it works. Attracted natural wheeler-deelers and young families
offered and wanted what the network could provide. Commitment building mechanisms – either formal or
through a shared ethos. Defection penalised. Commitment building events – markets, parties etc.
.. but still a limited appeal, man?
.... Coming soon....
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