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Open Money: Part 3

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Part 3: Does, is and from: community money With conventional money, the pattern is clear, you spend and it's gone. Given conventional money goes, why not in addition to what we are currently doing with our normal money world, we also start to use moneys that come back when we spend them? Very simple idea. We spend it, it goes around, it comes back. We talked before about the three characteristics, the three properties that define conventional money. Specifically what it does: it moves anywhere. What it is: it is scarce. And where it's from: it comes from them. So what are the three does, is and from, for a community currency. What does a community currency do? Well, it still moves. It moves because if it doesn't move, it's not money. But instead of moving anywhere, this money only moves around. And it moves around because it is acceptable to the people who want it. It's not acceptable to the people outside that community. That's why it moves around, it doesn't have a tendency to go anywhere else. And what is it? Well, the characteristic word we have for conventional money is: it's scarce. With a community currency the amount of money is quite simply sufficient. We have the money we need to do the things we want to do. And finally, where does this money come from? Well, in the normal world it comes from outside, from them, from forces beyond our control. With a community money, it's axiomatic. The money comes from us. So there it is. The three characteristics of a community currency that are distinct from those of a conventional money. Consider the hypothetical situation when you have two 20 dollar bills. One is the usual stuff. One is the community money. Which are you going to spend first? Why spend money that goes away when you can spend money that comes back? Use this money and expect it to change the way your world works.

Video Details

Duration: 2 minutes and 35 seconds
Country: United States
Language: English
Producer: Alan Rosenblith
Director: Alan Rosenblith
Views: 510
Posted by: alanrosenblith on Dec 23, 2009

The "does, is, and from" of community money.

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