Local Money shows how local currency can help us unleash the financial power of our communities to build a resilient, low-carbon future.
In past recessions and depressions, a popular response from communities has been to create their own forms of money. The jobs aren't there, and the money has dried up, but needs remain. How can local money help communities in times of hardship and cut as much carbon out of their economies as possible?
An inspiring and practical new book, Local Money helps you understand what money is and what makes good and bad money. It draws on the considerable track record of experimentation with local money around the world and gives ideas to those in the Transition movement and beyond about what has been tried, what works, and what to avoid.
Different models of alternative currencies are reviewed, from the Local Exchange Trading System (LETS) and Timebanks that work within communities, to paper currencies such as Berkshares, German regional currencies and Ithaca 'hours' that circulate among local businesses as an alternative to their losing trade to the big-box retailers.
How can local banks and bonds help us move our cities, communities and homes on to a more sustainable footing? The book suggests how local groups can create money that can deepen resilience and support the development of things we need, such as food and power, while also reducing a community's CO2 emissions.