Local Community Currency — It’s Time, Milwaukee by Sura, October 11

“Our economy is facing some tough challenges. We’re seeing a giant spike in foreclosures, job losses and workforce problems (transportation, documentation, and education). We cannot continue on this path. We must chart new maps for a reinvented economic strategy. We need better jobs, small business support (not just start-up) and an innovative economy addressing the needs of the future now!”

I wrote that a year ago, and it’s past time to begin.

Local Currency
Many other cities have their own currency. Examples would include Madison Hours, Berkshares, Ithaca Hours (one of the best known local currencies), Burlington Bread and Piedmont Plenty. There are also other forms of local economic exchange, like “Comfort Dollars.”

Most community currency is based on time and can be used to exchange services in neighborhoods. This promotes local economic strength and community self-reliance. Other benefits include more community involvement and pride, patronage of local businesses (those that participate), and ultimately the reduction of traffic emissions. Because of its positive impact on the environment, local currencies are part of economic strategies of more and more sustainable living supporters. You can find an overview here.

In addition to a local currency, we need accessible micro lending, and meaningful support for our small businesses which are the bread and butter of both our local and national economy, and are real assets to our community. Local business owners develop relationships with their customers. They don’t close up shop when the wages or taxes are lower in another state or country. They provide jobs. People with entrepreneurial skills are critical to our economic strength, to building our future, to reinforcing a sense of community.

The next project for 3D Vision is to work toward the creation of a local, Milwaukee “Community Currency.” We might start with Riverwest and the East Side.

If you’re interested in participating as an organizer, a business or by providing a service (lawn mowing, baby sitting, house cleaning, car rides, etc.), let me know.

Our first meeting will be in the upcoming weeks.

11 Oct 2008 | 8:08 am | Economic Development, DIY - Do It Yourself

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