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:
“When the manipulations of childhood are a little larceny, they may grow and change with the child into qualities useful and admire in the grown-up world. When they are the futile struggle for love and concern and protection, they may become the warped and ruthless machinations of adults who seek in the advantages of power what they could never win as children.”
—Leontine Young (20th century)
“... is it not clear that to give to such women as desire it and can devote themselves to literary and scientific pursuits all the advantages enjoyed by men of the same class will lessen essentially the number of thoughtless, idle, vain and frivolous women and thus secure the [sic] society the services of those who now hang as dead weight?”
—Sarah M. Grimke (1792–1873)
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—Ralph Waldo Emerson (1803–1882)