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Can a Community Currency be Independent of the State Currency? A Case Study of the Credito in Argentina (1995–2008)

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  • Pepita Ould-Ahmed

    (Institut de Recherche pour le Développement, IEDES—Université Paris 1, Campus du Jardin Tropical de Paris, 45 bis, Avenue de la Belle Gabrielle, 94736 Nogent-sur-Marne, France)

Abstract

This paper examines an example of a community currency system, the Argentine ‘barter clubs' developed from 1995. The term ‘barter club’ denotes a place of market exchange, within which economic transactions are paid for using an internal paper currency, the credito , issued by the founders of these clubs and not convertible to the official currency. The author's starting point is to wonder whether this micromonetary system could operate in an insular and independent manner, or if it was necessary to establish some kind of relation with the official macromonetary system. This was investigated by: an analysis of the discourses expressed by the key actors involved in ‘barter clubs’; a field survey conducted in a score of clubs in the province of Buenos Aires, and a case study of one of these; and comparing these results and conclusions with those of other researchers obtained at different times and in different places across the whole of Argentina. It was found that despite the barter club founders' desire to create an independent monetary system, the community currency owes its conditions of existence and acceptance to the official currency. The micromonetary credito system is fundamentally tied to the official macromonetary peso system.

Suggested Citation

  • Pepita Ould-Ahmed, 2010. "Can a Community Currency be Independent of the State Currency? A Case Study of the Credito in Argentina (1995–2008)," Environment and Planning A, , vol. 42(6), pages 1346-1364, June.
    • Handle: RePEc:sae:envira:v:42:y:2010:i:6:p:1346-1364
    DOI: 10.1068/a4270
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    References listed on IDEAS

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