‘Fascinating Insights Into Money’
I found this fascinating. It was written before cryptocurrency gained much traction, so there’s no mention of bitcoin here, but instead there are fascinating glimpses into how small groups or regions have ‘created’ their own money and use it instead of the regular government-issued currency to keep money flowing within that particular region.
The first example I heard of was the ‘Bristol Pound’ but according to the book there are lots of others. Lots. Sometimes the sheer number of such projects described becomes too much and they all start blending into one... Nonetheless the book proves the point that alternative currencies can be useful and successful.
It doesn’t really mention many recent experimental currencies which have been failures though. And now that we’ve had an explosion of cryptocurrencies I’m curious what the authors’ thoughts are on this new technology. (Since Bernard Lietaer joined Bancor as ‘Chief Monetary Architect’ I guess his views are mostly positive.)
From what I’ve learned about cryptocurrencies recently, I do believe we’re going to see more talk of other currencies (crypto or not) and fluid mechanisms to move between them. Should be interesting to watch.