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:
“The advantages found in history seem to be of three kinds, as it amuses the fancy, as it improves the understanding, and as it strengthens virtue.”
—David Hume (1711–1776)
“[T]here is no Part of the World where Servants have those Privileges and Advantages as in England: They have no where else such plentiful Diet, large Wages, or indulgent Liberty: There is no place wherein they labour less, and yet where they are so little respectful, more wasteful, more negligent, or where they so frequently change their Masters.”
—Richard Steele (1672–1729)
“A woman might claim to retain some of the child’s faculties, although very limited and defused, simply because she has not been encouraged to learn methods of thought and develop a disciplined mind. As long as education remains largely induction ignorance will retain these advantages over learning and it is time that women impudently put them to work.”
—Germaine Greer (b. 1939)