Resultados para la búsqueda "complementary currencies" : 2 resultados
Monetary panarchy
August Corrons

This article analyses the sustainability of the monetary system, with a systemic focus based in complex thinking. This thinking is far removed from the simple and the conventional, considering not only the distinct actors involved in the system but also the relationships and interactions between them. It is a way of thinking that views systems not as static or permanent, but as dynamic equilibriums linked to adaptation and change.

Being a socio-ecological system, the monetary system is subject to the dynamic behaviour of an adaptive cycle, which in turn is part of a panarchy of systems drawn to different scales across space and time. It is only when one considers this nested network of interconnected systems that it is possible to ensure the sustainability of each system individually and of the group as a whole.

The current monopoly of money in the form of bank debt has reached a point where it is so rigid and centralized it has become unsustainable. Proof of this can be seen in the systemic crisis we are currently living in. From a systemic focus based in complex thinking, this article analyses how the introduction of complementary currencies into the monetary system is one way in which its sustainability can be improved, also contributing to the sustainability of the planetary system as a whole, both economically and environmentally.

Social and Complementary Currencies and timebanks
Yasuyuki Hirota

In recent decades, different manifestations of Social and Complementary Currencies (SCCs) have emerged. SCCs are exchange mechanisms that offer an alernative to legal tender, aiming to stimulate trade within a circle. Their use is justified by the very definition of money as an agreement or law made by the community. Such currencies can be divided into six categories: currencies backed by official currencies to optimize the circulation of the legal tender by retaining it; currencies backed by other goods and/or services to inject liquidity into the community; currencies issued by the public authority that are circulated extensively because of their usefulness for paying taxes; mutual credit systems where members' positive or negative balances equate to the right to ask for the equivalent value of goods and/or services or the duty to provide them, respectively; SCCs issued as bank credit, with counter-cyclical effects to stabilize economic activities; and Fiat SCCs, which come into being without collateral, and need to be carefully managed to avoid accumulations in some businesses or overissue leading to hyperinflation. Each model's advantages and disadvantages must be studied carefully to decide which is most appropriate.


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