Advantages
Some alternative currencies devalue rapidly (they are called Schwundgeld); this increases monetary circulation. The Miracle of Wörgl is an event that showed the potential of this increased spending through the introduction of a local currency known as Freigeld. Local currencies also have the benefit that they cannot be spent abroad, and thus the money always keeps circulating locally, benefiting only the local economy.
Alternative currencies are reported to work as a counterbalance for the local economy. They increase in activity if the local economy slows down, and decrease in activity if the local economy goes up.
Read more about this topic: Alternative Currencies
Famous quotes containing the word advantages:
“We work harder than ever, and I cannot see the advantages in cooperative living.”
—Lydia Arnold, U.S. commune supervisor (of the North American Phalanx, Red Bank, New Jersey, 1843- 1855)
“The respect for human rights is one of the most significant advantages of a free and democratic nation in the peaceful struggle for influence, and we should use this good weapon as effectively as possible.”
—Jimmy Carter (James Earl Carter, Jr.)
“Men hear gladly of the power of blood or race. Every body likes to know that his advantages cannot be attributed to air, soil, sea, or to local wealth, as mines and quarries, nor to laws and traditions, nor to fortune, but to superior brain, as it makes the praise more personal to him.”
—Ralph Waldo Emerson (1803–1882)