expiration date

March 18, 2006 at 9:30 am | In currencies, friends |

Doug says: “Maybe money needs an expiration date.”

I’m not sure if he’s serious or joking, but there are alternative currency systems where the money expires. This ensures flow, which is what’s necessary for a currency to be an effective value exchange mechanism. This makes saving for a rainy day a bit difficult, so sometimes people design in a value storage currency as well. Good stuff, Doug. Thanks!

5 Comments

  1. Ted–

    Yes, I was serious.

    There is a current project underway to devise a complementary currency for South Bend, Indiana. We are probably going to follow the Ithica Hours model. I may be e-mailing you separately for your advice, since I understand this is a particular area of passion and study for you.

    In any case, the inspiration for this came from a piece by Facundo Cabral in Franck, Roze and Connolly, What Does It Mean to Be Human? Have you read it?

    :- Doug.

    Comment by dgermann — March 18, 2006 #

  2. Wow, I definitely want to know more about the South Bend effort. Fantastic!

    I haven’t read the piece. Do you have a link?

    Comment by ted — March 18, 2006 #

  3. Ted–

    It is a book. I found it at my library. Check this out: http://tinyurl.com/h3lk9

    :- Doug.

    Comment by dgermann — May 18, 2006 #

  4. Ted–

    The link to the South Bend community currency initiative is at http://www.MichianaCurrency.org

    :- Doug.

    Comment by dgermann — May 24, 2006 #

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