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The Impact Of Complementary Currency Systems On The Economy

Author

Listed:
  • BADEA LIANA

    (BUCHAREST UNIVERSITY OF ECONOMIC STUDIES)

  • RADU CEZARA-GEORGIANA

    (BUCHAREST UNIVERSITY OF ECONOMIC STUDIES)

  • DEAK ROXANA ELENA

    (BUCHAREST UNIVERSITY OF ECONOMIC STUDIES)

Abstract

Throughout the nineteenth and twentieth centuries, the majority of experiments with complementary currencies occurred during periods of crisis and economic instability. During these times, individuals turned to such currencies primarily for their protective functions. It is noteworthy that discussions about alternative currencies often emphasize the ethical and political dimensions of the phenomenon. Economists often categorize them as "forms of modern monetary competition" and tools contributing to the establishment of alternative currencies, fostering what is termed as economic democracy. This subject is inherently controversial, raising sensitive issues such as local economic patriotism. One crucial aspect that emerges in the exploration of alternative currencies is the requirement for trust. Building trust among users is challenging but essential for the establishment of an extensive network.

Suggested Citation

  • Badea Liana & Radu Cezara-Georgiana & Deak Roxana Elena, 2024. "The Impact Of Complementary Currency Systems On The Economy," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 15-21, February.
    • Handle: RePEc:cbu:jrnlec:y:2024:v:1:p:15-21
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    References listed on IDEAS

    as
    1. Fernández-Villaverde, Jesús & Sanches, Daniel, 2019. "Can currency competition work?," Journal of Monetary Economics, Elsevier, vol. 106(C), pages 1-15.
    2. Nina Stępnicka & Grzegorz Zimon & Dariusz Brzozowiec, 2021. "The Complementary Currency Zielony in Poland and Its Importance for the Development of Local Economy Entities during the COVID-19 Pandemic Lockdown," Sustainability, MDPI, vol. 13(16), pages 1-26, August.
    3. David Sanz Bas, 2020. "Hayek and the cryptocurrency revolution [Hayek y la revolución de las criptomonedas]," Iberian Journal of the History of Economic Thought, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Dpto. Historia e Instituciones Económicas I., vol. 7(1), pages 15-28.
    4. Angela ROGOJANU & Liana BADEA, 2014. "The issue of competing currencies. Case study – Bitcoin," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(590)), pages 103-114, January.
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