Community Currency

Local Currencies

Back in July 2006 the Johnston Library staff provided some information about the growing use of community currencies which  are used to stimulate local economic activity. The subject, which is known more formally as LETS (“Local Exchange Trading Systems”),  is again in the news.  See this article which also contains a short video on the subject: “Communities Print Their Own Currency to Keep Cash Flowing,” Marisol Bello, USA Today, April 10, 2009. For your convenience here is our original research note:

BottomFeeder (July 2006)

LETS

This acronym was new to us and discovered while assisting in an undergraduate research project that was tougher than we expected. Researching the subject is much easier if you look at some of the sources we provide here. LETS typically stands for "Local Exchange Trading System" and less frequently for "Local Employment and Trading System". A good definition is found in a book about the subject: Bridges into Work? An Evaluation of Local Exchange Trading Systems, by Colin Williams, et. al. "Local Exchange Trading Systems (LETS) are non-profit making associations that use local currencies to encourage members to trade services and goods with each other" (p.vi). Two other books in our collections relate directly to the subject: Community and Money: Men and Women Making Change, by Mary-Beth Raddon and Currency Movements as a Challenge to Globalisation? A Case Study of Manchester's Local Currency Networks, by Peter North. While the former book does give some Canadian examples, we will provide here some links to Canadian sites where "community currencies" or "alternative money" is being used in 2006. For information about "Toronto Dollars" see the site of Toronto Dollar Community Projects Inc.
"Calgary Dollars" are described here: http://www.calgarydollars.ca . The Victoria LETS is found at http://www.lets.victoria.bc.ca To find additional examples and to learn more about the use of community currencies see the very interesting journal we discovered along the way. Links to the International Journal of Community Currency Research are provided by searching that title in our catalogue. If you happen to be heading to the West Coast, you can buy some Salt Spring Dollars at http://www.saltspringdollars.com.

Our very own London Downtown Business Association has created Downtown Dollars to bring customers back to the downtown area.

Current Additions

Journals

International journal of community currency research [electronic resource] The aim of this journal is to provide a forum for the dissemination of knowledge and understanding about the emerging array of community currencies

Books

Greco, Thomas H. Money : understanding and creating alternatives to legal tender. DBW stack HG221.G77 2001

Haughton, Graham (ed). Community economic development. HUR stack HN400.C6C64 1999

Lietaer, Bernard A. The future of money : a new way to create wealth, work and a wiser world. DBW stack HG221.L533 2001

North, Peter. Alternative currency movements as a challenge to globalisation? : a case study of Manchester's local currency networks. DBW stack HD3435.G72M366 2006

Raddon, Mary-Beth. Community and money : men and women making change. DBW stack HD3430.R33 2003

Articles

Community Currencies: A New Tool for the 21st Century by Bernard Lietner

Communities Print Their Own Currency to Keep Cash Flowing by Marisol Bello.USA Today 4/10/2009

Lehigh Valley group eyes a local alternative to money: The Ithaca Hour is their model for a community currency
Spencer Soper. McClatchy - Tribune Business News. Jan 7, 2009.

Sustainable consumption, the new economics and community currencies: Developing new institutions for environmental governance
Gill Seyfang. Regional Studies. Oct 2006. Vol. 40, Iss. 7; p. 781

Harnessing the potential of the social economy? Time banks and UK public policy
Gill Seyfang. The International Journal of Sociology and Social Policy. 2006. Vol. 26, Iss. 9/10; p. 430

Working Outside the Box: Community Currencies, Time Banks and Social Inclusion
Gill Seyfang. Journal of Social Policy. Jan 2004. Vol. 33; p. 49 (23 pages)

Time for Change: International experience in community currencies
Gill Seyfang, Ruth Pearson. Development. Dec 2000. Vol. 43, Iss. 4; p. 56

Flip side of the coin: Community currencies and digital cash could spell the end for money, argues Ian Angel; [London edition]
Angel, Ian. Financial Times. Dec 22, 1997. p. 15

Websites

Complementary Currency Systems in Asia, Africa and Latin America

Wikipedia: Community Currencies Canadian Community Currencies

Resources for Community Currency Activists