Community currencies

The community currency idea in the UK and US and elsewhere is a signal that a new revolution is now underway fuelled by local initiatives (and largely ignored by the conventional media). We have been here before.

The 1750 British Industrial revolution did not begin as a national programme. On the contrary, it was done by local business people in the Midlands, well away from the landed gentry who controlled Parliament in London. It consisted of local initiatives that gradually helped transform the world. Economic change can begin at the grass roots.

It is necessary to listen out for the faint signals of change. The events that change our lives are rarely on the front pages of the newspapers. Local initiatives are underway that are not necessarily receiving mainstream media attention.

Community currencies help energize the local community (as distinct from the speculation and paper-shuffling of much of the high-end banking sector).

Big banks will continue to loom large in our lives (for good or ill). But local initiatives, such as community currencies, can enable individuals to feel empowered to help make a better life for themselves in their localities.