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ACKNOWLEDGEMENTS
A special word of thanks to Ed and Deb Shapiro, Frank Baylin, Kimberly Kassner, Nigel Seale, Aureya Magdalen, Jean Houston, Paul Ray, Jan Coleman, and Sally Dunne-Lee. To Michelle Bishop for her diligent assistance with some of the research. Also, to our agents David Nelson and Neil Gudovitz at Waterside Productions for their consummate support and guidance.
To Steve Piersanti, president of Berrett-Koehler, for holding a clear vision for the book with us, while guiding us through the rigors and practicalities of getting it down on paper.
This book is the result of, quite literally, thousands of conversations over time and scores of interviews across the globe during the course of writing this book. Unfortuna
tely, while many discussions didn’t make it into the book, they were seminal in shaping our work. There are too many people to thank here by name for their time, contributions, and generosity of spirit. Know that you are all held in our hearts with deep and abiding gratitude.
INDEX
Abundance: in Curitiba, 142
sustainable, 5–6, 55, 224
value and, 80
Accountability. See Fraud
Administration on Aging, 84–85
Age: of Enlightenment, 15, 29–30
Information, 50, 201
Modern, 173
shift, 6, 15, 203–204
of sustainable abundance, 224. See also Industrial Age
Agent modeling, 188, 195–196, 237n2
Airline, 195–197. See also Frequent flyer miles
Alchemy, 39–40, 218, 223–224
Alegres, 155
American Open Currency Standard (AOCS), 113
Amero, 200
Anonymity, 185–186
Apocalypse, 14
Approach-avoidance, 4
Arab Spring, 223
Austerity measure, 1, 141–142, 145–146
Austrian Central Bank, 178
Austrian School of Economics, 35, 71
Awareness campaign, 150
Balance, 199
Bali, 187–191
Banco Palmas, 103–109
Banco Popular de Brazil, 107
Banjar, 187–190
Bank access, 117
BankAmericard, 192
Bank crisis, 63, 70, 96–97
Bank debt: amplifying business cycle, 52
central banking and, 2, 40–41
Chicago Plan and, 3, 69–70
Federal Reserve Act and, 25–26
GNP and, 33–34
short-termism and, 45–46
Banking Act of 1933, 69–70
Bank of America, 95, 192
Bank of England, 25–26, 228n4
Bank regulation, 63
Bankruptcy, 3
interconnectivity and, 32–33
interest and, 39, 41
of states, 20, 227n21
in Weimar Republic, 236n10
Bank Transfer Day, 95
Barrier of entry, 108
Barter: Cooperative currencies and, 66
GNP and, 34
inflation and, 91–92
trueque clubs, 182–184, 183
Basket: of commodities, 90–91
of currencies, 113–114. See also Terra Trade Reference Currency
Beauty, 152, 201, 223
Bell Telephone, 96
BerkShares, 75, 89–91, 90
Bezant, 24, 65, 227n2, 230n9
Bike repair, 84
Biology, 32
Biomimicry, 102
Bioregion, 86
Biowaste, 142
Blaengarw, 159–161, 161
Blame, 216
BONUS, 170–171
Boom. See Business cycle
Boulder Gaian, 113
Brazilian Network of Community Development Banks (CDB), 107
Bridge financing, 121
Bristol Credit Union, 114
Bristol Pound (BP), 114–115
Brixton pound, 75
Brünningsche Notverordnungen, 179
Bubble, 33
Bullion, 27, 113. See also Gold standard
Burden of expectations, 19
Bureaucracy, 108, 126–127
Burnout, 194
Business cycle, 51
bank debt amplifying, 52
Terra and, 134
Business-to-business system, 5
Bust. See Business cycle
Bus token, 141–143
Butterfly effect, 31
Capitalism, 4, 22. See also Competition
Capivari, 109
Carbon-backed currency, 116, 137, 201
Carbon premium exchange (CPX), 116–117
Carebank, 84–85
Cash crunch, 148–149
Cell phone. See Mobile phone
Central bank: bank debt and, 2, 40–41
Brazil, 107
business cycle and, 52
Swedish, 25–26, 35–36
CEO turnover, 217
Chance, 31–32
Chaord, 192
Chaos, 31
Charity, 150
Chicago Plan, 3, 69–71, 231n15, 231n16
Chicago School of Economics, 35
Chiemgauer, 74–75, 87–89, 88
Child welfare, 80
Civic, 146–148
in Mae Hong Son, 205
nonprofits and, 162
Civil society, 224
Civil unrest, 145–146, 181–182, 192–193
Class, 18
bridging, 83
investing, 193–194
in krama, 190
merchant, 2
middle, 2, 50, 75, 216
underclass, 216
upper, 29, 50. See also Education
Clean development mechanism (CDM), 116
Clearing network, 121–122
Closed network, 115–116
Cocais, 109
Coin of the Realm, 113
Cold War, 15
College, 153–154, 193, 226–227n13
Colonialism, 2, 223
Commercial Credit Circle (C3), 74–75, 121–128
currency crisis and, 148–149
decentralization in, 128
as regional currency, 201
taxes paid in, 123, 128
Commodity: basket of, 90–91
Free Lakota Bank and, 113–114
taxes paid in, 27
Terra and, 137
Common tender, 58
Community currency. See Local currency
Community Exchange, 83, 84
Community service, 83–84, 165–166
Compensated dating, 20, 227n19
Competition: achievements facilitated by, 13
efficiency measuring, 199
Hub and, 130–131
interest and, 37–40
money system creating, 2, 9, 27–28
among NGOs and nonprofits, 162
paradigm, 215–216
Complementary currency, 5, 58–59
Complex flow network, 32–33, 61–63
Complexity, 30–31, 32, 217
Compound interest, 42–43
Compulsory growth pressure, 2, 42–43, 52–53
Compulsory reserve, 69–70, 228n1
Computer: chaos and, 31
education for, 83
enabling currencies, 60–61. See also Internet; Mobile phone
Concentration of wealth, 21–22, 49–53, 67–69
Conjunto Palmeira, 103–108, 104, 105
Consumerism, 20
Consumption loan, 104–105, 106, 107
Contraction, 51–52
Cooperative currency: movement, 73–74
mythos and, 222–223
price impact of, 150
social impact of, 132, 134, 152–153. See also specific topics
Cooperative Currency Consumer Report, 194
Cooperative of Teachers, 128
Coral reef, 188
Corporate scrip, 74, 199, 200
Countercyclical currency: civic as, 147–148
demurrage and, 67
Terra as, 135
WIR as, 100, 101–102
Counterfeiting, 24, 184–185
Creation Development Trust, 160–161
Creative Currencies Project, 153–155
Credit: access to, 96
business cycle and, 52
need for, 12
short-term, 126
in WIR, 100
Credit card, 74, 101, 192
Credit crunch, 121
Credit money, 40
Credito, 182–185
Crime, 5–6
concentration of wealth and, 52–53
GNP and, 34
Patch Adams Free Clinic and, 164
social capital and, 46
Crisis
, 12–13
bank, 63, 70, 96–97
currency, 148–150
disaster relief, 167, 169, 169–172
earthquake, 167, 169
euro, 50
of identity, 19
subprime, 70
Terra and, 134–135
Crowd funding, 193
Culpability, 216
Currency. See specific topics
Currency crisis, 148–150
Cutback, 1
Cycle, 51–52
David Ellis Pawn Shop, 11–12
Debt: in LETS, 76–77
repaying, 206
sovereign, 42–43, 70, 145–147, 227n21
stimulus and, 23–24
student loan, 17–18, 226–227n13. See also Bank debt; Loan
Decentralization: in C3, 128
in CPX, 116
in principled society, 193
subsidiarity and, 69, 231n14
sustainability and, 219
Default, 41, 110, 112. See also Bankruptcy
Defection, 196–197
Deflation, 167, 235n12
Democracy: in Bali, 187–188, 190–191
civic and, 147–148
concentration of wealth and, 21–22, 52–53
in principled society, 193–194
regio and, 191
social capital and, 46
Demurrage: BONUS and, 171
on Chiemgauer, 88
concentration of wealth and, 67–68
conceptual framework for, 176
saber and, 155
sustainability and, 67, 206
on Terra, 136, 138–139, 206
velocity and, 64, 68–69
on wära, 179
on Wörgl, 176–177
Denver, 11–12
Development, 33
Disaster relief, 167, 169, 169–172
Discounted cash flow (DCF), 45–46
Distance tax, 89
Diversity, 32–33, 62–63, 70
Divine right of kings, 24
Dixie Dollar, 113
Doctors without Borders, 17–18
Domestic care, 34
Drill and kill, 156, 220–221
Dual currency system, 65–66, 99–102, 103–10 7, 162
Earthquake, 167, 169
Earthship model, 165
Ecological disaster, 34, 188
Eco-money, 235n12
Economic Literacy Program, 184
Economics, school of, 28, 35
Economic treadmill, 43, 52
Ecosystem, 32–33
Ecosystem, monetary, 59–60, 145, 199–202, 220
Education, 14, 16
for computers, 83
Creative Currencies Project and, 153–155