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Local Exchange Trading Systems as a Response to the Globalisation of Capitalism

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  • Michael Pacione

    (Department of Geography, University ofStrathclyde, Graham Hills Building, 50 Richmond Street, Glasgow G1 1XN, Scotland, UK, MPacione@compuserve.com.)

Abstract

The globalisation of capitalism has disadvantaged those people and places marginal to the capitalist development process. The local exchange trading system represents a possible approach to the challenge of relocalising social and economic identity. Despite the growing importance of local exchange trading systems (LETS) in the UK, geographical research into the concept is limited. This paper examines the potential of LETS as a response to the hegemonic influence of global capitalism. The empirical evidence focuses on the development and operation of LETS in Glasgow. The research analyses both successful and unsuccessful LETS in the city, examines the prospects for further development of LETS in the UK, and considers the potential value of the concept particularly for people and places disadvantaged by the capitalist market economy.

Suggested Citation

  • Michael Pacione, 1997. "Local Exchange Trading Systems as a Response to the Globalisation of Capitalism," Urban Studies, Urban Studies Journal Limited, vol. 34(8), pages 1179-1199, July.
    • Handle: RePEc:sae:urbstu:v:34:y:1997:i:8:p:1179-1199
    DOI: 10.1080/0042098975583
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    References listed on IDEAS

    as
    1. L Thorne, 1996. "Local Exchange Trading Systems in the United Kingdom: A Case of Re-Embedding?," Environment and Planning A, , vol. 28(8), pages 1361-1376, August.
    2. Williams, Colin C., 1996. "The New Barter Economy: An Appraisal of Local Exchange and Trading Systems (LETS)," Journal of Public Policy, Cambridge University Press, vol. 16(1), pages 85-101, January.
    3. C C Williams, 1996. "Local Exchange and Trading Systems: A New Source of Work and Credit for the Poor and Unemployed?," Environment and Planning A, , vol. 28(8), pages 1395-1415, August.
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    3. Luigi Doria & Luca Fantacci, 2018. "Evaluating complementary currencies: from the assessment of multiple social qualities to the discovery of a unique monetary sociality," Quality & Quantity: International Journal of Methodology, Springer, vol. 52(3), pages 1291-1314, May.

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