The Challenge
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How might we restore vibrancy in cities and regions facing economic decline?
Inspiration
Mission #5
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Local Currency: circumventing the faltering global economy
The Brixton Pound and BerkShare are examples of two successful currencies that support diverse, independent, and local business. Local currencies like the Brixton Pound provide a fascinating, legal, and feasible model to support local communities by encouraging money and value to circulate at the local level. This prevents money from leaking out of communities at large chain stores (only accept standard currencies, ie Pounds Sterling, USD, Euro, etc) that only circulate about 10% (according to the video above) of the money spent. Local currencies circulate money by limiting them to use in a geographic area, encouraging local business and independent business. This makes sure that a livelihood circulates in a locality, instead of relying on a global currency for consumption.
Mission #5
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November 26, 2011, 09:16PM
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