Saturday, December 26, 2009

Design Priciples for Sustainable Local Currencies

by John Rogers
(from his forthcoming 40 page Community Currency Design Manual)

Experience of community currencies from around the world over several decades shows that to get beyond talk to practice requires several things:
* clear analysis of specific goals: is your primary goal to rebuild community or to support 'serious' economic development?
* analysis of local assets that can be used to solve local problems, meet local needs and achieve local goals - a good mixture of assets back the currency and give it credibility - from individual skills to under-used public buildings, spare business inventory etc.
* analysis of local operating conditions - forces working for and against a CC
* choice of design features of the currency to match the above
* creation of a robust organisation to run the currency with sound governance, efficient management and enforceable trading rules if necessary.

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