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Why are complementary currency systems difficult to grasp within conventional economics?

Author

Listed:
  • Marie Fare

    (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique)

  • Pepita Ould Ahmed

    (CESSMA UMRD 245 - Centre d'études en sciences sociales sur les mondes africains, américains et asiatiques - IRD - Institut de Recherche pour le Développement - Inalco - Institut National des Langues et Civilisations Orientales - UPD7 - Université Paris Diderot - Paris 7)

Abstract

"Complementary currency system (CCS) complements the official currency, with a view to accounting for and regulating exchanges of goods and services in a local space. Despite the topicality and the number of these complementary currencies, the large majority of economists seem to pay marginal attention to them. This article proposes some reasons to explain it. Fundamentally, conventional economics is based on a methodological approach and on theoretical and normative conceptions of money – its essence, status, size, and governance – that prevent it from understanding these monetary schemes. First, the heterogeneity of CCS and their new emergence confront economics to a methodological problem of measure of their impacts. Next, we show that, because of their limited purchasing power in time and in space, economics can't justify their use in market economy. Last, we will see that the monetary rules of issuing and regulating CSS prevent main contemporary monetary approaches to recognize and legitimate them."

Suggested Citation

  • Marie Fare & Pepita Ould Ahmed, 2018. "Why are complementary currency systems difficult to grasp within conventional economics?," Post-Print halshs-01678295, HAL.
    • Handle: RePEc:hal:journl:halshs-01678295
    DOI: 10.4000/interventionseconomiques.3960
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    Citations

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    Cited by:

    1. Francisco Javier García-Corral & Jaime de Pablo-Valenciano & Juan Milán-García & José Antonio Cordero-García, 2020. "Complementary Currencies: An Analysis of the Creation Process Based on Sustainable Local Development Principles," Sustainability, MDPI, vol. 12(14), pages 1-22, July.
    2. Reyns, Ariane, 2024. "What drives businesses to transact with complementary currencies?," Ecological Economics, Elsevier, vol. 220(C).
    3. Alexandra Lenis Escobar & Ramón Rueda López & Jorge E. García Guerrero & Enrique Salinas Cuadrado, 2020. "Design of Strategies for the Implementation and Management of a Complementary Monetary System Using the SWOT-AHP Methodology," Sustainability, MDPI, vol. 12(17), pages 1-23, August.

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