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COMPLEMENTARY CURRENCIES: STATE of the ART Edited by Noel Longhurst and Gill Seyfang

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COMPLEMENTARY CURRENCIES: STATE of the ART Edited by Noel Longhurst and Gill Seyfang IJCCR International Journal of Community Currency Research Volume 15 (2011) Special issue COMPLEMENTARY CURRENCIES: STATE OF THE ART edited by Noel Longhurst and Gill Seyfang www.ijccr.net Complementary Currencies: The State of the Art IJCCR 15 (2011) Special Issue (Section D) Edited by Noel Longhurst and Gill Seyfang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`#)*'&$!UZGNW:!B(#!`VGF!C%)_#$=3%<#!J0)&CK&L$.6231+.!.!ES0HI B5*#!V%&_5&7!5&!G'<5%3!K',45&7&4;83&M";538(1I!(+!.!H10HE B(#!2'3',)4!'+!C'&#6:!N)$*'&#6!%4!2'**,&5$6!2,))#&<6!C".<&'"1<6!.!HH0S/ 2'*=3#*#&$%)6!2,))#&<6!A=#&!G',)<#!G'+$a%)#!5&!I@/@!C"883+N&?*"8+.!.!SI0SH Note from the Editors: The State of the Art Noel Longhurst and Gill Seyfang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nternational Journal of Community Currency Research www.ijccr.net International Journal of Community Currency Research 15 (2011) D i i Editorial: Yet another moment of truth? David Boyle Fellow of new economics foundation and co-founder of Time Banking UK www.david-boyle.co.uk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nternational 8+-#.5:LI /#%+.$%&'7*$*"#$-5#%$'8$.#4$1-.5)$'8$9'.#,:$>)$ 8'+$ E"%+/#)$ F,/)*+%92$ G@(#$ .#(#+$ &##.$ %&/#$ *'$ Journal of !"#$ '+-6-.%/$ )*'+,$ -).@*$ %&'7*$ )*-97/7)$ O-.5$'7*$%.,*"-.6$#/)#$%&'7*$ "-9:$!"#$'./,$*4'$ 3%<1%6#)N$-*$-)$%&'7*$*"#$3'))-&-/-*,$ '8$<+#%*-.6$ Community 9#.*-'.)$ '8$ "-9$ '.$ *"#$ -.*#+.#*2$ %)$ G$ 4+-*#2$ ,'7+$ '4.$9'.#,:$ F,/)*+%9$ 4#.*$ '.$ *'$ /%7.<"$ 4#+#$&'*"$-.$&''1)$&,$9#$]*"-)$4-//$&#$%$*"-+5^: Currency *"#$O-+)*$)*%93$)<+-3$3+'0#<*$-.$*"#$CD>2$*"#$-5#%$ Research &'++'4#5$ 8+'9$ >7)*+-%$ 4"#+#&,$ *"#$ *'4.$ [7*$ -*$ -)$ %/)'$ )-6.-O-<%.*2$ G$ &#/-#(#2$ *"%*$ -))7#)$ -*)$ '4.$9'.#,2$ 4"-<"$+#P7-+#)$ %$ )9%//$ F,/)*+%9@)$ )*'+,$ )"'7/5$ )755#./,$ +#)7++#<*$ 3%,9#.*$ #(#+$ 9'.*"$ *'$ 1##3$ -*)$ (%/7#:$ !"-)$ -*)#/8$ .'42$ -.$ %$ 9'9#.*$ '8$ )-9-/%+$ #<'.'9-<$ -..'(%*-'.$ -)$ 1.'4.$ %)$ Q.#6%*-(#$ -.*#+#)*@$ 3#+-/2$ 4"#.$3#'3/#$%+#$ '.<#$%6%-.$<'.)-5#+-.6$ www.ijccr.net 9'.#,2$ &#<%7)#$-*$ #.<'7+%6#)$ 3#'3/#$*'$ )3#.5$ )#+-'7)/,$ 4"%*$ 4#%3'.)$ V$ -.*#//#<*7%/$ %.5$ International Journal of Community Currency Research 15 (2011) D 1-3 1 3+%<*-<%/$ V$ *"#,$ 9-6"*$ "%(#$ 8'+$ 9##*-.6$ *"#-+$ So you have to take any '4.$ .##5)2$ %.5$ *"')#$ %+'7.5$ *"#92$ -8$ *"#$ #<'.'9,$)-.1): predictions along these lines =#4$ 9'.#,$ #.*+#3+#.#7+)$ %+#$ %/4%,)$ with a pinch of salt. We have '3*-9-)*-<:$!"#,$%/4%,)$ &#/-#(#$*"#,$ %+#$%*$*"#$ been here before; we will (#+,$ <7)3$ '8$ <"%.6#:$ _-)-*$ *"#$ %..7%/$ B-6-*%/$ undoubtedly be here again. But `'.#,$ S'+792$ %.$ -.*#+.%*-'.%/$ #(#.*$ "#/5$ &,$ the articles in this issue of IJCCR *"#$ /#%5-.6$ #/#<*+'.-<$ 9'.#,$ <'.)7/*%.<,$ E'.)7/*$a,3#+-'.2$-)$*'$3/7.6#$,'7+)#/8$-.*'$*"-)$ are evidence that this is one of )%9#$ %*9')3"#+#$ '8$ #Y3#<*%*-'.:U$!"#$ those moments of possibility. <'93/#9#.*%+,$ <7++#.<,$ 4'+/52$ #/#<*+'.-<$ '+$ 1.-**#52$ '.$ <'.)*%.*$ 4%*<"$ 8'+$ *"#$ #Y3#<*#5$ c !"#$ 6+'4-.6$ +#%/-M%*-'.$ &,$ /'<%/$ 9#))-%": 6'(#+.9#.*$-.$*"#$CZ2$.'*$07)*$*"%*$*"#,$<%.$ D'$,'7$"%(#$*'$*%1#$%.,$3+#5-<*-'.)$%/'.6$*"#)#$ %<*2$&7*$*"%*$*"#,$97)*$5':$[-+9-.6"%9$%.5$ /-.#)$ 4-*"$ %$3-.<"$'8$ )%/*:$ ?#$ "%(#$ &##.$ "#+#$ f))#Y$ "%(#$ %/+#%5,$ /%7.<"#5$ *"#-+$ '4.$ &#8'+#N$4#$4-//$7.5'7&*#5/,$&#$"#+#$%6%-.:$[7*$ &%.1)2$ [-+9-.6"%9$ -.$%$ O-*$ '8$ .')*%/6-%$8'+$ Editorial: Yet anothermomentoftruth? Yet Editorial: *"#$%+*-</#)$ -.$*"-)$ -))7#$ '8$ G;EEW$ %+#$#(-5#.<#$ *"#$ [-+9-.6"%9$ `7.-<-3%/$ D%(-.6)$ [%.1$ R *"%*$*"-)$-)$'.#$'8$*"')#$9'9#.*)$'8$3'))-&-/-*,:$ 4"-<"$"%5$gg$&+%.<"#)$%<+'))$*"#$<-*,$7.*-/$ !"#$+-)#$'8$E"-#96%7#+$-.$A#+9%.,2$*"#$)7<<#))$ -*$ 4%)$ )4%//'4#5$ 73$ -.*'$ *"#$ &#//,$ '8$ *"#$ CC IJ '8$*"#$[+-Y*'.$3'7.5$-.$\'.5'.2$*"#$%5'3*-'.$'8$ \/',5)$6+'73:$$R,)*#+$-)$*"#$3+#<#5#.*$"#+#N$ <'997.-*,$<7++#.<-#)$&,$*"#$[+%M-/-%.$<#.*+%/$ %.$-..'(%*-(#$3%,9#.*$),)*#9$*"%*$-)$"76#/,$ &%.12$ %+#$ %//$ ),93*'9)$ '8$ %.$ #9#+6-.6$ 3'37/%+: 3'))-&-/-*,: !"#+#$ -)$ .'$ 5'7&*$ %*$ /#%)*$ -.$9,$'4.$<'7.*+,2$ >//$*"#)#$ /''1$ )#*$ *'$ )"-8*$ *"#$%6#.5%:$
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