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With this cooperative economic system, we could do more than build a sustainable economy.
Many times, using an independent, sustainable economic system can have people begin
to think of other independent, sustainable systems and ventures, like renewable energy
and community gardens. These can be implemented due to the strengthened community
relationships brought about by the trade of the local currency. “This puts more community
power into our hands,” says Steve Burke, who sells postcards and T-
With the collective community power that would come by using our own currency would also come the power to control what we do with it. In Ithaca, New York, they give loans in Ithaca HOURS which can now be used for anything from a haircut, to rent, to the partial purchase of a home. Because the money belongs to the community, they can lend it the way they want to - and chose to give loans without interest.
That we don’t trust each other in business is a product of our oppression and generally accepted as a major problem in our community’s economic development.
Our own currency system could easily open the doorways to building the sustainable relationships, trust and cooperation we need to build our own sustainable economic sources.
The constant trade utilized in local currency systems makes it easier to meet and get to know the people of a community as well as the skills and products they have to offer, allowing for richer and more valued interaction on a social and economic level. Many communities have expressed the closeness they've achieved as a result of using local currency.
It helps protect our local environment and resource base so that economic activity doesn't damage the ecological (7) base of the region."
