In Reply to: re: re: chamber of commerce posted by VC on February 13, 2009 at 08:48:11:

I think you miss the point. Deliberately designed rapidly devaluing, local currency arises only in times of economic dire straits. If people hoard money the whole economy declines even further but if they spend money can make the world go around.

The main idea is to circulate the 'currency' more rapidly than normal money within a limited geographical area - say a town like Castlebar. The ide is to try to keep local people in jobs as a result by providing services for their neighbours.

It's the old anarchist philosophy more than capitalism or communism even.

We all have to eat and we need basics like shelter, clean water, and then a bit of entertainment is nice after that. Most of that simple stuff can be supplied by your neighbours. At a certain stage you have to cooperate else we all go down.