Money For Local Living Economies
Complementary Currencies: Money for Local Living Economies was a sub-conference of the Fourth Annual International BALLE Conference. It was held at Champlain College - Burlington, Vermont and was co-sponsored by the E.F. Schumacher Society, and The Burlington Currency Project and (BALLE) Business Alliance for Local Living Economies.
On June 7th and 8th I attended this "Money in Local Living Economies" conference explored the evolution of our current money and financial system, how it works and why it is detrimental to healthy local economies and communities. The rest of the day explored the world of "complementary currencies," visionary and practical monetary innovations that have arisen in response to these flaws inherent in our current system and the potential of these systems for stimulating local economies, increasing the circulation of wealth, developing loyalty to local and regional businesses, and empowering municipal governments.
In summary, the cutting edge work being done within the world of ‘complementary currencies’ was covered. This usuryfree community currency movement is based largely on a bottom up approach. It promotes a fundamental decentralization of the control of money. Since it is created without usury, it is different from our orthodox system of usury-based money. It is usuryfree and it is often referred to by different names such as: local currency, community currency, time currency, targeted currency, alternative currency, trade or barter credits, and loyalty points.
These terms have arisen from slightly different philosophies but they all share a general intent which is to create a ‘secondary’ currency independent of any central bank in the orthodox system of usury-based finance. Instead it is created and controlled by the people and the community in which it serves.
The purpose of these usuryfree community currencies is, to optimally meet unmet needs with unused resources. The result being that exchanges and relationships that would otherwise not have taken place due to lack of money are made possible.
This conference provided a new sense of what is possible around money.as we progress into this 21st Century. The more than 200 attendees of this conference got a sense of the various potential applications of complementary currencies – how they can empower our respective communities, how they can grow and strengthen our local economies and how they are encouraging greater environmental responsibility.
Some of the speakers and their websites are herein listed:
Complementary Currencies: Money for Local Living Economies was a sub-conference of the Fourth Annual International BALLE Conference. It was held at Champlain College - Burlington, Vermont and was co-sponsored by the E.F. Schumacher Society, and The Burlington Currency.