Money: Understanding and Creating Alternatives to Legal Tender

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Chelsea Green Publishing, Nov 1, 2001 - Business & Economics - 320 pages
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Cash. Loot. Scratch. Lucre. Bread. Coin. Scrip. Moolah. Green. We all think we know intuitively what money is, and what it can do for us. Tom Greco, director of the Community Information Resource Center, understands and explains money on an eye-popping, fundamental level. Moreover, he provides a roadmap on how to make alternatives to the "legal tender" work for individuals, communities, and local economies.

Money will set your mental gears spinning with fantastic ideas. This book explains the mysteries and realities of money in clear and accessible prose, and reveals the true workings, and alarming fragility, of our existing financial system. It also describes concrete and realistic actions that individuals, businesses, social service agencies, and governments can take to enhance productivity and purchasing power, to protect local economies from the ravages of globalization, and to strengthen the bonds of community.

Money is a radical critique of our existing financial system, but also a practical and inspirational how-to manual for creating a vibrant and effective community currency system.
You'll learn:

  • The truth about how money is created, and what it actually represents
  • Why we're all in debt
  • How the financial system is structured to inevitably transfer wealth from the poor to the rich
  • How to start a financial revolution in your local community

A retired professor of business and economics, Tom Greco has spent twenty years studying community currency systems around the world, including historical models (such as during the Great Depression), and the scores of contemporary examples now operating in the United States, Canada, Europe, South America, Australia, New Zealand, and Japan. He helped establish the Tucson Traders currency in Arizona, and he has served as a consultant for many others. No pie-in-the-sky idealist, Greco offers a realistic vision of how healthy local economies can be supplemented with flourishing community currencies.

Anyone who works routinely with money needs this book--this means bankers, stockbrokers, merchants, community organizers, loan sharks, gamblers, investors, bank robbers, hedgefund operators, sports agents, and ordinary people.

 

 

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Contents

Monetary Realities and Official Illusions
1
Community Currency and the New World Order
13
What Is Money?
22
The Disintegration of Local Economies
34
Money Power and the U S Constitution
41
Complementary Currencies Past and Present
55
Global Finance Inflation and Local Currencies
76
New Wave Pioneers
86
A Note on Interest
164
Medium of Exchange or Savings Medium?
172
Improving Local Currencies or How
181
How to Design and Implement a Community
197
A BusinessBased Community Currency
213
Currency Alternatives for Impersonal Markets
220
Good Money for Good Work
227
Youth Employment Scrip YES
241

Recent Models and Developments
101
Red Global de Trueque network
119
Monetary Transformation
125
The Foundation
136
A Classification Scheme
145
Epilogue
255
Acknowledgments
263
References
274
Index
289
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About the author (2001)

Thomas H. Greco, Jr. is the director of the Community Information Resource Center, which he founded in 1992. CIRC is a nonprofit consulting organization and networking hub dedicated to economic equity, social justice, and community improvement, specializing in community currency and mutual credit design, development, and implementation. He is a former engineer and professor of business administration. Tom's books include Money and Debt: A Solution to the Global Crisis, Money: Understanding and Creating Alternatives to Legal Tender, and The End of Money and the Future of Civilization. For more information on re-creating money systems, visit another webpage of Tom's, Reinventing Money (reinventingmoney.com).

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