Local Currency

[Edina]

I read about that and it seemed as though the people really liked it and it was quite successful.

[Asher]

Here is an article on the Times website about a similar program going on in a town near where I live.
http://select.nytimes.com/2007/02/25/...
Note: It has since gone from a 10% discount to a 5% discount.

[Edina]

I think they mentioned that one in the book.

The article mentioned some downsides but I don't think the discount hurts the business much at all (maybe it helps it) because it isn't that large of one.

The whole thing is an interesting concept.

[Darren]

Lee wrote: "One of the most interesting ideas I found described in this book are communities like Ithaca and Burlington which issue local currency as a way of keeping local money in the community. Does anybod..."

The idea of a local currency is spreading across the globe Australia is about to launch its first local currency called Baroon Dollars - www.baroondollars.org

[Edina]

Cool! I wonder how it'll turn it.

[Websterdavid3]

Does Bill's description of growth oriented economics help anyone else? I read it to say that serious overall growth began in 1712 w the steam engine, and should end in the next 50 years or so w the decline of cheap fossil fuels. Hisotricizes growth economics as a temporal blip.