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 Continue reading ‘Local Community Currency — It’s Time, Milwaukee’

11 Oct 2008 | 8:08 am | Economic Development, DIY - Do It Yourself | No comments yet - Add your comments