Local money - a response to the globalisation of capitalism?

    Research output: Contribution to journalArticle

    4 Citations (Scopus)

    Abstract

    In response to the global financial crisis of 2007, a number of central banks used quantitative easing to address the collapse of confidence and credit. This involved increasing the liquidity of the financial system by creating new money. It is suggested that similar strategies of ‘printing money’ in the form of local currencies may be of value for local communities confronting the challenges of economic globalisation. This paper identifies the local impacts of economic globalisation, examines the underlying causes of the global financial crisis, explains the nature of money, and illustrates the goals and different forms of local money. Finally, the potential value of local currencies as a response to the globalisation of capital is assessed.
    Original languageEnglish
    Pages (from-to)9-19
    Number of pages11
    JournalQuaestiones Geographicae
    Volume30
    Issue number4
    DOIs
    Publication statusPublished - 21 Dec 2011

    Fingerprint

    capitalism
    globalization
    financial crisis
    currency
    central bank
    financial system
    economics

    Keywords

    • local money
    • complementary currencies
    • global financial crisis

    Cite this

    @article{a2a5eff75e7a432cbf5f7aabf8daed75,
    title = "Local money - a response to the globalisation of capitalism?",
    abstract = "In response to the global financial crisis of 2007, a number of central banks used quantitative easing to address the collapse of confidence and credit. This involved increasing the liquidity of the financial system by creating new money. It is suggested that similar strategies of ‘printing money’ in the form of local currencies may be of value for local communities confronting the challenges of economic globalisation. This paper identifies the local impacts of economic globalisation, examines the underlying causes of the global financial crisis, explains the nature of money, and illustrates the goals and different forms of local money. Finally, the potential value of local currencies as a response to the globalisation of capital is assessed.",
    keywords = "local money, complementary currencies, global financial crisis",
    author = "Michael Pacione",
    year = "2011",
    month = "12",
    day = "21",
    doi = "10.2478/v10117-011-0033-x",
    language = "English",
    volume = "30",
    pages = "9--19",
    journal = "Quaestiones Geographicae",
    issn = "2081-6383",
    number = "4",

    }

    Local money - a response to the globalisation of capitalism? / Pacione, Michael.

    In: Quaestiones Geographicae, Vol. 30, No. 4, 21.12.2011, p. 9-19.

    Research output: Contribution to journalArticle

    TY - JOUR

    T1 - Local money - a response to the globalisation of capitalism?

    AU - Pacione, Michael

    PY - 2011/12/21

    Y1 - 2011/12/21

    N2 - In response to the global financial crisis of 2007, a number of central banks used quantitative easing to address the collapse of confidence and credit. This involved increasing the liquidity of the financial system by creating new money. It is suggested that similar strategies of ‘printing money’ in the form of local currencies may be of value for local communities confronting the challenges of economic globalisation. This paper identifies the local impacts of economic globalisation, examines the underlying causes of the global financial crisis, explains the nature of money, and illustrates the goals and different forms of local money. Finally, the potential value of local currencies as a response to the globalisation of capital is assessed.

    AB - In response to the global financial crisis of 2007, a number of central banks used quantitative easing to address the collapse of confidence and credit. This involved increasing the liquidity of the financial system by creating new money. It is suggested that similar strategies of ‘printing money’ in the form of local currencies may be of value for local communities confronting the challenges of economic globalisation. This paper identifies the local impacts of economic globalisation, examines the underlying causes of the global financial crisis, explains the nature of money, and illustrates the goals and different forms of local money. Finally, the potential value of local currencies as a response to the globalisation of capital is assessed.

    KW - local money

    KW - complementary currencies

    KW - global financial crisis

    U2 - 10.2478/v10117-011-0033-x

    DO - 10.2478/v10117-011-0033-x

    M3 - Article

    VL - 30

    SP - 9

    EP - 19

    JO - Quaestiones Geographicae

    JF - Quaestiones Geographicae

    SN - 2081-6383

    IS - 4

    ER -