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:
“If we help an educated man’s daughter to go to Cambridge are we not forcing her to think not about education but about war?—not how she can learn, but how she can fight in order that she might win the same advantages as her brothers?”
—Virginia Woolf (1882–1941)
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—Sarah M. Grimke (1792–1873)
“Can you conceive what it is to native-born American women citizens, accustomed to the advantages of our schools, our churches and the mingling of our social life, to ask over and over again for so simple a thing as that “we, the people,” should mean women as well as men; that our Constitution should mean exactly what it says?”
—Mary F. Eastman, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4 ch. 5, by Susan B. Anthony and Ida Husted Harper (1902)