Advantages
Some alternative currencies devalue rapidly (they are called Schwundgeld); this increases monetary circulation. The Miracle of Wörgl is an event that showed the potential of this increased spending through the introduction of a local currency known as Freigeld. Local currencies also have the benefit that they cannot be spent abroad, and thus the money always keeps circulating locally, benefiting only the local economy.
Alternative currencies are reported to work as a counterbalance for the local economy. They increase in activity if the local economy slows down, and decrease in activity if the local economy goes up.
Read more about this topic: Alternative Currency
Famous quotes containing the word advantages:
“To become aware in time when young of the advantages of age; to maintain the advantages of youth in old age: both are pure fortune.”
—Johann Wolfgang Von Goethe (1749–1832)
“There are great advantages to seeing yourself as an accident created by amateur parents as they practiced. You then have been left in an imperfect state and the rest is up to you. Only the most pitifully inept child requires perfection from parents.”
—Frank Pittman (20th century)
“A woman might claim to retain some of the child’s faculties, although very limited and defused, simply because she has not been encouraged to learn methods of thought and develop a disciplined mind. As long as education remains largely induction ignorance will retain these advantages over learning and it is time that women impudently put them to work.”
—Germaine Greer (b. 1939)