Worldchanging: Local Currencies Grow During Economic Recession
Complementary forms of currency are nothing new, and they frequently appear when mainstream financial systems are in distress. Examples include Greenbacks during the American Civil War, and the British Bradbury "Treasury Notes" and German Kriegsgeld during the First World War.
Alternative currencies, in theory, encourage consumers to make purchases within their communities rather than elsewhere in the country or abroad. "Buying local" circulates wealth in the region, reduces unnecessary imports, and helps avoid higher unemployment levels, supporters say.
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