My goal is to see the of establishment a regional demurrage currency here in Baltimore.
Bernard Lietaer is an economist who believes the answer to surviving
economic downturns lies in having complementary community currencies to
help local regions maintain active trade as dollars become scarce.
Baltimore is rich with business partners to create such a currency.
With the organic farm established for the public school system, and
green job investment in the coming years, and the assistance of the
Johns Hopkins Credit Union (and Business School) this is an excellent
time to establish a regional currency that would better support our
schools, businesses and neighborhoods going forward.
According to Bernard Lietaer, the structure of monetary systems has a
direct influence on the culture of society, and by implementing a
demurrage currency we can foster community cooperation over individual
competition for wealth creation. Our expansionary currency, along with
the overwhelming volume of trade being speculative rather than for the
exchange of real goods and services leaves us with an ever slowing
velocity in our currency. To counter this, our central banking system
increases the volume of the currency to increase the flow of real
trade. The velocity of money can be increased in a more sustainable way
by putting a complementary community currency in place that has a
'holding fee'. When people are encouraged to spend money rather than
hoard it then increased trade helps to unlock the barriers to
employment in our poorer neighborhoods.
The goal of a monetary system should be to have money functioning like
blood in an animal; if it isn't flowing and nourishing the entire
animal, then you get gangrenous tissue (a pretty good description of
our inner cities, I feel) which will inevitably be lethal. In our
current system the money pools in too few hands, leaving the rest of
the community lacking a medium to exchange their services. The problem
isn't solved by simply printing new money when these speculative
bubbles burst. The inflationary costs hit the poorest the hardest. If
your child wakes up with half of their blood volume missing it's not be
enough to simply give them a transfusion. We need to address the
underlying causes to ensure future economic health.
This article gives a great example of the type of currency I'd to see established here in Baltimore:
Some discussion of Economics from a new perspective: