Local Currencies in the 21st Century: Understanding Money, Building
Local Economies, and Renewing Communities
June 25-27, 2004
Bard College, Annandale-on-Hudson NY
Christopher Lindstrom was studying the existing centralized monetary
and banking system, and how it has helped shape a mono-culture global
economy. He was concerned about the impact of this private, for-profit
system on the economies, environment, and social structure of local
communities. He imagined, instead, a more democratically structured
money system that fostered sustainable economies. A classmate from
Simons Rock College who attended this past Spring's E. F. Schumacher
seminar, Building Sustainable Local Economies, brought Chris to the
Schumacher Library. There he found a treasure trove on local currencies,
including the paper "Democratic Money" written by another
Simons Rock graduate, Bryn Meyer, when she interned at the Schumacher
Society.
Chris wanted to share the information he was gathering more broadly.
As a result of his initiative, the Schumacher Society is conducting
a conference, Local Currencies in the 21st Century: Understanding
Money, Building Local Economies, and Renewing Communities, June 25-27
at Bard College, in Annandale-on-Hudson, New York. Chris
has assembled a fine conference team including Billie Best who is
undertaking conference development and outreach, and Bryn Meyer who
is preparing biographical information on conference presenters and
programming suggestions.
The conference will introduce the concept of community-oriented monetary
systems (including Hours programs, Time Dollars, LETSystems, and other
examples) to a new generation of students, activists, community development
professionals, academics, and cul tural leaders from around the world.
The goal is to teach, empower and encourage community activists to
lead their own local currency initiatives.
Conference attendees will learn the nuts-and-bolts of local currency
systems and how these systems build local economies by raising the
level of economic literacy in a community and by renewing a commitment
to place. The process of adopting and managin g a local currency system
requires a level of trust and mutual obligation that strengthens social
bonds and weaves the fabric of community. A stronger local economy,
coupled with a stronger social fabric, results in greater social stability
and increas ed regional self-reliance. Most importantly, an economically
enlightened community is empowered to take responsibility for its
own prosperity.
Local currencies are a powerful way to change consumer behavior.
As consumers use local currency they distinguish between goods and
services that are provided locally, and those that are imported into
their community. Local spending strengthens commu nity in a multitude
of ways. Small locally owned businesses benefit from the competitive
advantage of a strong local monetary system. Economic diversity and
economic sustainability, symbiotic requirements for a healthy local
economy, become evermore fe asible as market forces stabilize around
a core set of local community values. Ultimately, local currencies
become a mechanism for development of appropriately scaled import-replacing
industries, giving communities a sense of security, stability and
self-determination.
Full conference details including registration information for Local
Currencies in the 21st Century will be available by mail and at www.localcurrency.org
mid February 2004. A group of notable authors, activists, and academics
have already confirmed pa rticipation at the conference for both plenary
and break-out sessions, including:
- Dwarko Sundruni, one of the last living
disciples of Mahatma Gandhi, a scholar and proponent of "Gandhian
Economics."
- Richard Douthwaite, acclaimed scholar,
activist and organizer on the issue of money reform, and author
of Short Circuit: Strengthening Local Economies for Security in
an Unstable World, and The Ecology of Money.
- Thomas Greco, Director of the Community
Information Resource Center, and author of Money: Understanding
and Creating Alternatives to Legal Tender.
- Edgar Cahn, creator of "Time Dollars,"
and author of No More Throw Away People.
- Mary-Beth Raddon, an experienced activist
in numerous LET (Local Employment Trading) Systems operating in
Canada, and author of Community and Money: Men and Woman Making
Change.
- David Boyle, a senior associate at the
New Economics Foundation, in London, and author of The Money Changers:
Currency Reform from Aristotle to E-Cash
Local Currencies in the 21st Century is designed as a results-oriented
program intended to provide attendees with an understanding of the
principles of stable monetary issue, and empower them with the tools
to implement a local currency system in their own community. Positive
outcomes of the conference will include:
- Attendees will learn how the current centralized
monetary system works in order to bring back to their communities
a better understanding of the impact the global economy has on local
economies.
- Attendees will be exposed to a variety
of philosophies and theories about money and monetary systems in
order to become better at analyzing economic opportunities for their
communities.
- Attendees will be steeped in the history
and background of local currency issue in order to recognize and
suggest for their own communities a variety of cultural, organizational,
and technical responses to creating a regionally-based monetary
system.
- Attendees will expand their understanding
of the economic, environmental and social benefits of local currency,
and be more effective in leading local currency initiatives.
- Attendees will have the opportunity to
network with each other and the leading scholars and activists in
the movement, and build a support system for themselves and their
community as they pursue local currency initiatives.
- Attendees will be empowered through new
knowledge, technical and organizational tools, and mutual support
to lead a local currency initiative, increasing the likelihood of
their success in developing a monetary system that will foster a
sustainable local economy for their community.
While the global economy works efficiently to centralize ownership
and the control of wealth, decentralized regional economies are an
important counterpoint working to redistribute wealth as broadly as
possible while supporting unique regional identitie s and cultures.
The Local Currencies in the 21st Century program is based on the belief
that strong regional economies are inextricably tied to the goals
of democratic participation, social justice, and economic equity.
For more information contact:
Christopher Lindstrom, Conference Coordinator, E. F. Schumacher Society,
140 Jug End Road, Great Barrington, MA 01230 USA or by email at: chris@smallisbeautiful.org