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)
“For, the advantages which fashion values, are plants which thrive in very confined localities, in a few streets, namely. Out of this precinct, they go for nothing; are of no use in the farm, in the forest, in the market, in war, in the nuptial society, in the literary or scientific circle, at sea, in friendship, in the heaven of thought or virtue.”
—Ralph Waldo Emerson (1803–1882)
“There is no one thoroughly despicable. We cannot descend much lower than an idiot; and an idiot has some advantages over a wise man.”
—William Hazlitt (1778–1830)