--- john hull <[EMAIL PROTECTED]> wrote: > It seems that there are a number of schemes to create > currencies, on top of extant national currencies, that > will be accepted only locally.
> I am very uncomfortable with such programs, although I > haven't been able to find any scholarly research on > them. Do a search for "community currency" or "local currency". Tom Greco has written a couple of books on this. > why are they good? They essentially extend credit to persons who would otherwise not be able to obtain a small loan from commercial banks or credit unions, and the loan is interest-free. Sellers in effect extend such credit, because this widens the market for their goods. So basically this is a response to credit constraints. Fred Foldvary ===== [EMAIL PROTECTED]
