Milwaukee Neighborhoods Consider Printing Own Money
Just saw this article:
December 3, 2008
They may be talking funny money, but it's not funny business.
Residents from the Milwaukee neighborhoods of Riverwest and East Side are scheduled to meet Wednesday to discuss printing their own money. The idea is that the local cash could be used at neighborhood stores and businesses, thus encouraging local spending. The result, supporters hope, would be a bustling local economy, even as the rest of the nation deals with a recession.
Hope we see some followup news on this.. I really think these sorts of currencies could help revive the economy! Kudos to them for being so forward thinking!
Re: Milwaukee Neighborhoods Consider Printing Own Money
The question I have is does this really "jump start" the local economy. I know it to some extents will lock customers is but at the same time doesn't it add additional overhead to businesses who have to convert this, and price items and so on?
Re: Milwaukee Neighborhoods Consider Printing Own Money
It seems to be working quite well in communities that have already done this. I'm no economist but it seems that currency backed by something of real value is better than a currency backed by simple fiat. We can't keep printing money that isn't backed by anything.
Most barter currencies aren't used for full value against an item, though they can be, if the merchant so chooses. They usually are accepted as a portion of payment, so, in effect, they almost work like discount coupons.
Quote:
Originally Posted by Twoaday
The question I have is does this really "jump start" the local economy. I know it to some extents will lock customers is but at the same time doesn't it add additional overhead to businesses who have to convert this, and price items and so on?
Re: Milwaukee Neighborhoods Consider Printing Own Money
I find the idea interesting but my biggest thing is that this local currency doesn't actually create any new products or services which to me is truly creating wealth.
Re: Milwaukee Neighborhoods Consider Printing Own Money
Quote:
Originally Posted by Twoaday
I find the idea interesting but my biggest thing is that this local currency doesn't actually create any new products or services which to me is truly creating wealth.
If it creates work, it does the job of the official currency.
We may see more of this as the US Treasury gets looted in the name of bailouts.
OnYourMark, LLC is a full-service web design, production, programming, hosting and Internet marketing company with audio, photography and video services in our studio on Main Street in Sussex, Wisconsin or at your location.
We serve clients in industry, healthcare, eCommerce, professional services, real estate and construction, information services, hospitality, advertising agencies, and more...throughout Wisconsin and the USA. Please contact OnYourMark for a free, no-obligation consultation about increasing your inquiries and sales while decreasing your costs via the web.
Milwaukee Neighborhoods Consider Printing Own Money
Linear Mode
