Skip to main content
SpringerLink
Log in
Book cover

Decentralisation and Regional Development pp 155–185Cite as

Smarter Money for Smarter Cities: How Regional Currencies Can Help to Promote a Decentralised and Sustainable Regional Development

  • Chapter
  • First Online:

Part of the book series: Springer Geography ((SPRINGERGEOGR))

Abstract

This article describes how regional currencies can help improve livelihoods in two key ways. Firstly, they can help promote decentralisation and strengthen the local economy. Secondly, if based on Silvio Gesell’s concept of free money, they can, in the long run, contribute to a more sustainable development. This second aspect is more difficult to understand. Accordingly, the article explains the problems inherent in our economic system—which is based on a banking system in which money supply and debt develop synchronously—problems that are not well understood in economic science. Since regional currency initiatives do not depend on the support of governmental institutions, the article aims to encourage private individuals and businesses to implement regional money, and in this way support a decentralised and sustainable development.

This article was presented at the “International Conference on Smarter Cities”, held in Manila on 14–15 November 2013, organised by the University of Philippines (Faculty SURP).

This is a preview of subscription content, log in via an institution.

Chapter
USD   29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD   84.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD   109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD   109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Learn about institutional subscriptions

Notes

  1. 1.

    Especially in the first years after the start of the industrial activities of the plant in 2004 there were recorded severe damages to the ecosystem and ecosystem services, especially a significant decrease in the population of swans (Escaida et al. 2014).

  2. 2.

    These terms are often used synonymously (including in this article). However, some authors try to distinguish between regional and complementary currencies (Kennedy et al. 2012) or divide complementary currencies based on their nature and purpose in territorial, community and economic currencies (Blanc 2011).

  3. 3.

    On the following analysis and presented solutions, see already Fuders (2009b, 2010b), Fuders and Max-Neef (2012, 2014a, b), Fuders et al. (2013).

  4. 4.

    The last big financial crises began in: 1857, 1929, 2008.

  5. 5.

    The calculation presumes a fixed gold price. It is worth mentioning that Jesus most probably would not have deposited money in a bank account that yields interest since the Bible, as well as many other religions prohibits charging interest (cf. Holy Bible: Exodus 22, 25; Leviticus 25, 36–37; Ezekiel 18, 13; Psalm 15, 5; Proverbs 28, 8; Luke 6, 35; also Quran: 2.275).

  6. 6.

    M1: Cash (bills and coins) and deposits in checking accounts; M2: M1 + all time-related deposits, saving deposits, non-institutional money market funds; M3: M1 + M2 + large and long-term deposits (2 years), institutional money market funds, repurchase agreements, along with other larger liquid assets.

  7. 7.

    For the moderate evolution of the growth of world productivity, see IMF (2006, 2012), OECD (2008).

  8. 8.

    This seems to be true not only for productive economies but also for any renewable natural resource exploited by man. For this reason, it has been pointed out that in the long run any natural resource that reproduces itself more slowly than the interest rate is a candidate for extinction (Daly and Farley 2004).

  9. 9.

    Also—again, very up to date—even the invention of diseases (Leitner 2000; Blüchel 2003; Coleman 2003; McTaggart 2005; Blech 2005; Engelbrecht and Köhnlein 2006; Lanka et al. 2006; Widmer et al. 2006) can be seen as a means to increase production, in this case of medicines.

  10. 10.

    Short positions and speculation were also the supposed causes in the old time (New York Times 1929a, b, c). As today, a transaction fee was proposed to defeat speculation and speculators were denominated as “parasites” (New York Times 1929d).

  11. 11.

    Already Karl Marx (1911) had recognised that capitalism is self-destructive. It seems that Marx did not, however, recognise that this is due to the (interest-based) financial system.

  12. 12.

    It should be pointed out that this is actually contrary to what Nikolai Kondratieff originally had proposed. Kondratieff was convinced that the long economic waves are not triggered by technological innovations; instead, according to his interpretation innovations in science and technology were rather triggered by economic cycles (Kondratieff 1926).

  13. 13.

    In this context, it is interesting to note that in Edinburgh there exists a renowned university named after James Watt and his financier George Heriot: the Heriot-Watt University. Given the order in which their names appear in the name of the university, we can suspect that the financier of James Watt is deemed to be more important than Watt himself.

  14. 14.

    Not just between private people but also to some extend between countries (Kennedy 1990). Some even assume that developing countries are intentionally driven into the debt trap (Perkins 2004).

  15. 15.

    With regard to this point, it is particularly interesting to note that, according to a recently published study by the Cologne Institute for Economic Research, as the interest on deposits approaches the zero percent mark, inequality in Germany is growing at a slower pace (Handelsblatt 2015).

  16. 16.

    In this vein one might argue that those who hold that money should actually be grateful to those who are indebted, for money is created by debt.

  17. 17.

    If the governments really managed to save enough to pay off a large portion of their debts, then it would necessarily be the people who are indebted. This phenomenon is found in those (few) countries where the national debt is low, e.g. Chile. Thanks to its income from copper mining, Chile managed to almost completely dissolve its net national debt (BCCh 2012b). Instead of the State, now the majority of the population finds itself in or close to the debt trap. This is because in our financial system someone has to be indebted. Therefore, in Chile banks are so desperate to grant loans that they offer incentives to department stores for selling credit, which is why rebates in Chile in most cases are only granted if the buyer pays with a credit card or signs a loan contract (Fuders and Max-Neef 2012, 2014a; Fuders and Belloy 2013).

  18. 18.

    This is probably based on the wildly accepted recommendation of Irving Fisher to reflate if the risk of debt deflation occurs (Fisher 1933a). According to this theory, deflation is caused by over-indebtedness. Irving Fisher’s debt-deflation theory is a good example of how the problem inherent in our financial system is misunderstood. Debt is not the cause of deflation but rather a symptom of our financial system, where money is created by debt. Deposits grow by interest independently of the performance of real economy, which is why total debt also grows independently of the performance of the real economy, since there is no interest payment without debt. Money supply therefore inflates until the system collapses. If the financial system collapses people start hoarding money at home (instead of bringing it to the bank, which would then loan it out), so it does not serve as a medium to facilitate the exchange of goods anymore and deflation prevails. In our financial system we see either inflation or deflation. Stable money does not exist (Fuders et al. 2013). The fact that inflation is not always seen as a problem and appears relatively moderate is due to the fact that inflation is measured solely by the prices of consumer goods, while households are likely to invest surpluses in stock or real estate markets, where we do see steadily rising prices. This effect, which could be called the “inflation-deflation paradox”, is probably a major reason why the underlying problems of our banking system have not been recognised by economists (with further references Fuders 2011; Azkarraga et al. 2011; Fuders and Belloy 2013; Fuders et al. 2013; Fuders and Max-Neef 2014a).

  19. 19.

    At the Bretton Woods conference he proposed an international currency of this kind called Bancor (Keynes 1980).

  20. 20.

    Banks might, however, charge a commission fee.

  21. 21.

    It is estimated that in Spain right now there are 70 social money initiatives (Albor 2013).

  22. 22.

    As of 2006, up to 65 regional currency initiatives have been identified (Rösl 2005, 2006).

  23. 23.

    Some time-based currencies value participants’ contributions equally: one hour equals one service credit. In these systems, one person volunteers to work for an hour for another person; thus, they are credited with one hour, which they can redeem for an hour of service from another volunteer. Other systems, such as Ithaca Hours, let physicians and dentists charge more “hours” per hour (Wikipedia 2014d).

  24. 24.

    The owner of a Swiss private bank, Karl Reichmuth, asked me this question. He is co-author of the book: “Der RealUnit” (Reichmuth and Reichmuth 2001).

  25. 25.

    The daily values of the UF since 1990 can be downloaded from the website of Chile’s tax authority. See: http://www.sii.cl/pagina/valores/uf/uf2012.htm.

  26. 26.

    A steady-state economy is “an economy with constant stocks of people and artifacts, maintained at some desired, sufficient levels by low rates of maintenance ‘throughput’, that is, by the lowest feasible flows of matter and energy from the first stage of production (…) to the last stage of consumption (…)” (Daly 1991).

  27. 27.

    Economists speak of “market failure” if markets do not lead to the positive outcomes for society that economic theory attributes to free market competition.

  28. 28.

    This is no small sum. It was shown that prices compound 30–50 % due to interest (with further references Kennedy 1990).

  29. 29.

    Human needs in the Human-Scale-Development-Concept are seen as ontological, i.e. stemming from the condition of being human and can be characterised as few, finite, classifiable and do not vary through all human cultures and across historical time periods in contrast to the notion of what economics define as “wants”, which are infinite and insatiable. What do change over time and between cultures are the strategies by which these needs are satisfied. On the concept of a Human Scale Development see: Max-Neef et al. (1991).

References

Journals and Articles

  • Aroca, P. (2009). Desigualdades regionales en Chile. Foreign Affairs Latinoamérica, 9(1), 53–62.

    Google Scholar 

  • BCCh—Banco Central de Chile. (2012b). Deuda externa de Chile 2011. Santiago de Chile.

    Google Scholar 

  • Berger, W. (2009). Die Finanzmarktkrise. Hintergrund, 1, 13–16.

    Google Scholar 

  • Bichlmaier, S. (2010). Umlaufsicherung vs. Niedrig-Zins-Politik und Inflationsstrategie der Notenbanken. Humane Wirtschaft, 2, 4–49.

    Google Scholar 

  • Blanc, J. (2011). Classifying “CCs”: Community, complementary and local currencies’ types and generations. IJCCR—International Journal of Community Currency Research, 15, 4–10.

    Google Scholar 

  • Buiter, W., & Panigirtzoglou, N. (2003). Overcoming the zero bound on nominal interest rates with negative interest on currency—Gesell’s solution. Economic Journal, 113(490), 723–774.

    Google Scholar 

  • Cuadrado Roura, J. R., Mancha, T., Villena, J. E., Casares, J., Gonzáles, M., Marín, J. M., et al. (2006). Política Económica. Madrid: McGraw-Hill.

    Google Scholar 

  • Fisher, I. (1933a). The debt deflation theory of great depressions. Econometrica, 1(4), 337–357.

    Google Scholar 

  • Frühauf, M. (2009, April 2). Die Verstaatlichung des Anleihemarktes. F.A.Z., p. 9.

    Google Scholar 

  • Fuders, F. (2009a). Eine Wirtschaftsordnung ohne Zinsen – eine Antwort auf die gegenwärtige Weltfinanzkrise. Zeit-Fragen, 23, 3–4.

    Google Scholar 

  • Fuders, F. (2009b). Die natürliche Wirtschaftsordnung als Option nach dem Zusammenbruch. Aufklärung & Kritik, 2, 128–147.

    Google Scholar 

  • Fuders, F. (2009c). Die Kinderfrage oder von der Mär, ein privatwirtschaftliches Rentensystem löse das Demographieproblem. Humane Wirtschaft, 5, 36–38.

    Google Scholar 

  • Fuders, F. (2010a). Warum der Zins auch moralisch nicht zu rechtfertigen ist. Humane Wirtschaft, 2, 26–29.

    Google Scholar 

  • Fuders, F. (2010b). Alternative Concepts for a global financial system—An answer to the present world financial crisis. Revista de Estudios Internacionales (Universidad de Chile), 166, 45–56.

    Google Scholar 

  • Fuders, F. (2011). Wie Zerstörung von Sachkapital dem Finanzsystem in die Hände spielt. Humane Wirtschaft, 2, 34–38.

    Google Scholar 

  • Fuders, F. (2014). Indexierte Währungen und Recheneinheiten als Mittel gegen Inflation und Finanzkrisen? Zeitschrift für Sozialökonomie, 51(180/181), 15–24.

    Google Scholar 

  • Fuders, F. (2015). Auch das Bargeld braucht einen Negativzins. Fairconomy Basisheft 2015, 10.

    Google Scholar 

  • Fuders, F., & Belloy, P. (2013). Terremoto del 27.02.2010 en Chile - Cómo el sector financiero se beneficia de la destrucción de capital real. IADE-Realidad Económica, 275, 61–75.

    Google Scholar 

  • Fuders, F., & Löhr, D. (2014). Hat die Europäische Zentralbank ein Tabu gebrochen? Fairconomy, 4, 4–5.

    Google Scholar 

  • Fuders, F., Mondaca, C., & Azungah Haruna, M. (2013, Julio–Diciembre). The Central Bank’s dilemma, the Inflation-Deflation Paradox and a new interpretation of the Kondratieff waves. Economía (U. de los Andes, Venezuela), XXXVIII(36), 33–66.

    Google Scholar 

  • Hamer, E. (2004). Der Welt-Geldbetrug. Zeit-Fragen, 45, 1.

    Google Scholar 

  • Handelsblatt. (2015, June 22). Umverteilung durch Niedrigzinsen – Die ultralockere Geldpolitik verringert einer Studie zufolge die Vermögensungleichheit. Handelsblatt, p. 8.

    Google Scholar 

  • Mankiw, G. (2009, April 19). It may be time for the fed to go negative. New York Times, p. BU7.

    Google Scholar 

  • Max-Neef, M. (2010). The world on a collision course and the need for a new economy. Ambio, 39, 200–210.

    Google Scholar 

  • New York Times. (1929a, November 14). Efforts to cut short selling and peg key stocks among Day’s development on the Exchange, New York Times, p. 1.

    Google Scholar 

  • New York Times. (1929b, November 17). Short sales stir conflicting views: Some hold practice helpful, others harmful to the Stock Market. New York Times, p. N7.

    Google Scholar 

  • New York Times. (1929c, November 25). Asks state inquiry on stock recession—Senator Hastings wants the Governor to name Committee of Business Leaders. New York Times, p. 18.

    Google Scholar 

  • New York Times. (1929d, December 10). Asks house to vote Tax on Stock Sales, Representative Sabath introduces Bill for 5 % Levy on Shorts. Penalty for Non-Payment Illinois Man denounces “Wall Street Gamblers” as “Rapacious Parasites”. New York Times, p. 54.

    Google Scholar 

  • Paech, N. (2009). Postwachstumsökonomie – ein Vademecum. Zeitschrift für Sozialökonomie, 160/161, 28–30.

    Google Scholar 

  • Rösl, G. (2005). Regionalwährungen in Deutschland. Wirtschaftsdienst, 85, 182–190.

    Google Scholar 

  • Steltzner, H. (2009, April 2). Auf dem Londoner Gipfel, F.A.Z., p. 1.

    Google Scholar 

  • Unger, B. (2007, September 17). Besser Wirtschaften – Regionale Utopie. Zeit-Online.

    Google Scholar 

Books and Chapters

  • Aristotle. (1995). Politik, Erstes Buch. In Meiner F Aristoteles Philosophische Schriften. Band 4. Hamburg: Felix Meiner Verlag.

    Google Scholar 

  • Azkarraga, J., Max-Neef, M., Fuders, F., & Altuna, L. (2011). La Evolución Sostenible II – Apuntes para una salida razonable. Eskoriatza: Lanki (Mondragón Unibertsitatea).

    Google Scholar 

  • Blech, J. (2005). Die Krankheitserfinder – Wie wir zu Patienten gemacht werden. Frankfurt: Fischer.

    Google Scholar 

  • Blüchel, K. (2003). Heilen verboten – töten erlaubt. Die organisierte Kriminalität im Gesundheitswesen. Munich: Goldmann.

    Google Scholar 

  • Brundtland Report—Report of the World Commission on Environment and Development. (1987). Our common future. New York: United Nations.

    Google Scholar 

  • Coleman, V. (2003). How to stop your doctor killing you. Barnstaple/Devon: European Medical Journal.

    Google Scholar 

  • Creutz, H. (1993). Das Geldsyndrom - Wege zu einer krisenfreien Marktwirtschaft. Munich: Wirtschaftsverlag Langen Müller/Herbig.

    Google Scholar 

  • Daly, H. (1991). Steady-state economics: Second edition with new essays. Washington: Island Press.

    Google Scholar 

  • Daly, H., & Farley, J. (2004). Ecological economics—Principles and applications. Washington, Covelo, London: Island Press.

    Google Scholar 

  • Engelbrecht, T., & Köhnlein, C. (2006). Virus-Wahn: Vogelgrippe (H5N1), SARS, BSE, Hepatitis C, AIDS – Wie die Medizin-Industrie ständig Seuchen erfindet und auf Kosten der Allgemeinheit Milliarden-Profite macht. Lahnstein: Emu-Verlag.

    Google Scholar 

  • Escaida, J., Jaramillo, E., Amtmann, C., & Lagos, N. (2014). Crisis Socioambiental: El humedal del Río Cruces y el Cisne de Cuello Negro. Valdivia (Chile): Ediciones UACh.

    Google Scholar 

  • Fernández Díaz, A., Parejo Gámir, J., & Rodríguez Sáiz, L. (2006). Política Económica. Madrid: McGraw-Hill.

    Google Scholar 

  • Fisher, I. (1922). The purchasing power of money—Its determination and relation to credit interest and crisis. New York: Kelley.

    Google Scholar 

  • Fisher, I. (1932). Booms and depressions. New York: Adelphi.

    Google Scholar 

  • Fisher, I. (1933b). Stamp scrip. New York: Adelphi.

    Google Scholar 

  • Fisher, I. (1947). Feste Währung – Illusion und Wirklichkeit. Heidelberg: Freiheit-Verlag.

    Google Scholar 

  • Fuders, F., & Max-Neef, M. (2012). Regionalwährungen gegen eine globale Krise und für eine nachhaltige regionale Entwicklung. In H. Rogall, et al. (Eds.), Jahrbuch Nachhaltige Ökonomie. Marburg: Metropolis.

    Google Scholar 

  • Fuders, F., & Max-Neef, M. (2014a). Capítulo 12: Dinero, deuda y crisis financieras - Propuestas teórico-prácticas en pos de la sostenibilidad del sistema financiero internacional. In J. Fernández Alonso, et al. (Eds.), Economía Internacional. Claves teórico-prácticas sobre la inserción de Latinoamérica en el mundo (pp. 245–274). Proyecto LATIn.

    Google Scholar 

  • Fuders, F., & Max-Neef, M. (2014b). Local money as solution to capitalist global financial crises. In M. Pirson, U. Steinforth, C. Largacha-Martin Dierksmeier (Eds.), From capitalistic to humanistic business (pp. 157–189). London: Palgrave-Macmillan.

    Google Scholar 

  • Galbraith, J. K. (1983). El dinero – De dónde vino y adónde fue. Buenos Aires, Madrid: Hyspamerica.

    Google Scholar 

  • Gesell, S. (1949). Die natürliche Wirtschaftsordnung. Lauf: Rudolf Zitzmann Verlag.

    Google Scholar 

  • Hamer, E., & Hamer, E. (2005). Was passiert, wenn der Crash kommt? Munich: Olzog.

    Google Scholar 

  • Hankel, W. (1972). Währungspolitik, Geldwertstabilisierung, Währungsintegration und Sparerschutz. Stuttgart: W. Kohlhammer.

    Google Scholar 

  • IMF—International Monetary Fund. (2006). World economic outlook—Financial systems and economic cycles. Washington: IMF.

    Google Scholar 

  • IMF—International Monetary Fund. (2012). World economic outlook. Washington: IMF.

    Google Scholar 

  • Kennedy, M. (1990). Geld ohne Zinsen und Inflation – Ein Tauschmittel, das jedem dient. Steyerberg: Permakultur-Verlag.

    Google Scholar 

  • Kennedy, M. (2011). Occupy Money – Damit wir zukünftig alle die Gewinner sind. Bielefeld: J. Kamphausen.

    Google Scholar 

  • Kennedy, M., Lietaer, B., & Rogers, J. (2012). People money—The promise of regional currencies. Axminster: Triarchy Press.

    Google Scholar 

  • Keynes, J. (1936). General theory of employment, interest and money. New York: Harcourt.

    Google Scholar 

  • Keynes, J. (1980). Proposals for an international currency union. In D. Moggridge (Ed.), The collected writings of John Maynard Keynes, vol. XXV, Activities 1940–1944 (pp. 42–66). Cambridge: Cambridge University Press.

    Google Scholar 

  • Kondratieff, N. (1926). Die langen Wellen der Konjunktur. In Archiv für Sozialwissenschaft und Sozialpolitik, 56 (pp. 573–609). Tübingen: Mohr.

    Google Scholar 

  • Krugman, P. (2009). Die neue Weltwirtschaftskrise. Frankfurt, New York: Campus Verlag.

    Google Scholar 

  • Lachmann, W. (2003). Volkswirtschaftslehre 1. Berlin: Springer.

    Google Scholar 

  • Lanka, S., Niemitz, H. U., Widmer, V., & Krafeld, K. (2006). Die Vogelgrippe – Der Krieg der USA gegen die Menschheit. Stuttgart: Klein-Klein-Verlag.

    Google Scholar 

  • Larroulet, C., & Mochón, F. (2003). Economía. Santiago de Chile: McGraw-Hill Interamericana.

    Google Scholar 

  • Leitner, M. (2000). Mythos HIV – Eine kritische Analyse der AIDS-Hysterie. Niebüll: Videel.

    Google Scholar 

  • Mankiw, G. (1998). Principles of Economics. Fort Worth: Dryden Press.

    Google Scholar 

  • Marx, K. (1911). Das Kapital. Kritik der politischen Ökonomie, Bd. III. Hamburg: Meissner.

    Google Scholar 

  • Max-Neef, M., Elizalde, A., & Hopenhayn, M. (1991). Human scale development—Conception, application and further reflections. York, London: New Apex.

    Google Scholar 

  • McTaggart, L. (2005). What doctors don’t tell you: The truth about the dangers of modern medicine. London: Thorsons.

    Google Scholar 

  • Müller, D. (2009). Crashkurs – Weltwirtschaftskrise oder Jahrhundertchance. Munich: Droemer.

    Google Scholar 

  • OECD—Organization for Economic Co-operation and Development. (2008). Economic outlook (Vol. 84, no. 2). Paris: OECD Publishing.

    Google Scholar 

  • OECD—Organization for Economic Co-operation and Development. (2009). OECD territorial reviews: Chile 2009. Paris: OECD Publishing.

    Google Scholar 

  • Onken, W. (1997). Modellversuche mit sozialpflichtigem Boden und Geld. Lütjenburg: Fachverlag für Sozialökonomie.

    Google Scholar 

  • Perkins, J. (2004). Confessions of an economic hit man. San Francisco: Berret-Koehler.

    Google Scholar 

  • Porter, M., & Kramer, M. (2011, January–February). Creating shared value: How to reinvent capitalism—And unleash a wave of innovation and growth. Harvard Business Review (Reprint R1101C), pp. 1–17.

    Google Scholar 

  • Reichmuth, K., & Reichmuth, R. (2001). Der RealUnit – Zur Quelle der Geldwertstabilität. Thun: Ott.

    Google Scholar 

  • Riechmann, J. (2010). Entre la cantera y el jardín. Madrid: La Oveja Roja.

    Google Scholar 

  • Rösl, G. (2006). Regionalwährungen in Deutschland – Lokale Konkurrenz für den Euro? In D. Bundesbank (Ed.), Diskussionspapier Reihe 1: Volkswirtschaftliche Studien, p. 43.

    Google Scholar 

  • Rothbard, M. (2009). America’s great depression. Auburn (Alabama): The Ludwig von Mises Institute.

    Google Scholar 

  • Schäfer, U. (2009). Der Crash des Kapitalismus. Frankfurt, New York: Campus-Verlag.

    Google Scholar 

  • Schumpeter, J. A. (1939). Business cycles—A theoretical, historical and statistical analysis of the capitalist process. New York, Toronto, London: McGraw-Hill.

    Google Scholar 

  • Shiller, R. (2008). Die Subprime Lösung: Wie wir in die Finanzkrise hineingeraten sind – und was wir jetzt tun sollten. Kulmbach: Börsenmedien AG.

    Google Scholar 

  • Soddy, F. (1933). Wealth, virtual wealth and debt—The solution of the economic paradox. New York: E.P. Dutton.

    Google Scholar 

  • Soddy, F. (1934). The role of money. London: Routledge. (reprinted by Routledge, London 2006)

    Google Scholar 

  • Stalk, G., et al. (Eds.). (2004). Harvard business review—Estrategias de crecimiento. Barcelona: Deusto.

    Google Scholar 

  • Steiner, R. (1979). Die soziale Grundforderung unserer Zeit – In geänderter Zeitlage. Zwölf Vorträge, gehalten in Dornach und Bern vom 29. 11. bis 21.12.1918. Dornach: R. Steiner Verlag.

    Google Scholar 

  • Suhr, D. (1988). Alterndes Geld - Das Konzept Rudolf Steiners aus geldtheoretischer Sicht. Schaffhausen: Novalis Verlag.

    Google Scholar 

  • Teichmann, U. (1983). Wirtschaftspolitik. Munich: Vahlen.

    Google Scholar 

  • USP (Universidade de São Paulo – Núcleo de Economia Solidaria). (2013). Bancos Comunitários de Desenvolvimento. São Paulo: USP.

    Google Scholar 

  • Van Suntum, U. (2005). Die unsichtbare Hand – Ökonomisches Denken gestern und heute. Berlin: Springer.

    Google Scholar 

  • Widmer, V., Lanka, S., & Brix, S. (2006). Der Masern-Betrug. Stuttgart: Klein-Klein-Verlag.

    Google Scholar 

Online Publications

Download references

Author information

Authors and Affiliations

  1. Instituto de Economía, Director SPRING-Latin America, Universidad Austral de Chile, Valdivia, Chile

    Felix Fuders

Authors
  1. Felix Fuders
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Felix Fuders .

Editor information

Editors and Affiliations

  1. TU Dortmund University Faculty of Spatial Planning, Dortmund, Germany

    Eva Dick

  2. Faculty of Spatial Planning, TU Dortmund University, Dortmund, Germany

    Karin Gaesing

  3. Department of Planning, Kwame Nkrumah University of Science and Technology, Department of Planning, Kumasi, Ghana

    Daniel Inkoom

  4. Department of Economics, Administration, Universidad Austral de Chile, Valdivia, Chile

    Teodoro Kausel

Rights and permissions

Reprints and permissions

Copyright information

© 2016 Springer International Publishing Switzerland

About this chapter

Cite this chapter

Fuders, F. (2016). Smarter Money for Smarter Cities: How Regional Currencies Can Help to Promote a Decentralised and Sustainable Regional Development. In: Dick, E., Gaesing, K., Inkoom, D., Kausel, T. (eds) Decentralisation and Regional Development. Springer Geography. Springer, Cham. https://doi.org/10.1007/978-3-319-29367-7_9

Download citation

Publish with us

Policies and ethics

Search

Navigation