The district currency : a new currency design for managing the commons

Martignoni, Jens

doi:10.15133/j.ijccr.2018.014

Publication type:	Article in scientific journal
Type of review:	Peer review (publication)
Title:	The district currency : a new currency design for managing the commons
Authors:	Martignoni, Jens
et. al:	No
DOI:	10.15133/j.ijccr.2018.014
Published in:	International Journal of Community Currency Research
Volume(Issue):	22
Issue:	2
Page(s):	16
Pages to:	38
Issue Date:	2018
Publisher / Ed. Institution:	RAMICS
ISSN:	1325-9547
Language:	English
Subjects:	Co-operatives; Community currency; Democratic decision making; Monetary theory
Subject (DDC):	332: Financial economics
Abstract:	Most schemes of complementary currencies developed in the last 50 years are based on the “money as a means of exchange” concept, which means exchange of individual agents based on their indi-vidual needs and offers. The individual person or is an actor in a network and by establishing a market it is possible to exchange goods and services. Mutual Credit systems LETS or Timebanks support mostly this market case and many of them limit common activities to the sole operation of the system itself. Therefore, community currencies today are often currencies operating within a community but not necessary for the community. The case of a commons is mostly not recognized as a completely different kind of exchange where needs of a whole group have to be satisfied through offers of individuals and offers of the whole (commons) have to be shared among the indi-vidual members. Such an exchange asks for different features from a community currency. This was the starting point of a project in Zurich, Switzerland to develop a more suitable and effective cur-rency on the commons idea. It is the needs and tasks of the community, the public (community) goods and common tasks which are the core and drivers of the currency. As a secondary element the traditional individual market-based system complements this common layer and strengthens its impact. Therefore, it could be seen as a two tiers model. The paper describes basics, premises and functions of the idea including some historical background and more specifically the case of Wörgel in Austria which has some interesting aspects still not widely taken into consideration. The main features of the district currency model include intended and controllable circulation, demo-cratic decision of spending and budgeting and a commons-based value system. The currency was developed along a case study in a housing co-operative in Zurich. Experiences with the planning district-currency-game give some important hints for the feasibility and the functioning of such an improved currency model and the open questions remaining to be answered.
URI:	https://digitalcollection.zhaw.ch/handle/11475/22332
Fulltext version:	Published version
License (according to publishing contract):	Licence according to publishing contract
Departement:	School of Management and Law
Organisational Unit:	Institute for Organizational Viability (IOV)
Appears in collections:	Publikationen School of Management and Law

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Martignoni, J. (2018). The district currency : a new currency design for managing the commons. International Journal of Community Currency Research, 22(2), 16–38. https://doi.org/10.15133/j.ijccr.2018.014

Martignoni, J. (2018) ‘The district currency : a new currency design for managing the commons’, International Journal of Community Currency Research, 22(2), pp. 16–38. Available at: https://doi.org/10.15133/j.ijccr.2018.014.

J. Martignoni, “The district currency : a new currency design for managing the commons,” International Journal of Community Currency Research, vol. 22, no. 2, pp. 16–38, 2018, doi: 10.15133/j.ijccr.2018.014.

MARTIGNONI, Jens, 2018. The district currency : a new currency design for managing the commons. International Journal of Community Currency Research. 2018. Bd. 22, Nr. 2, S. 16–38. DOI 10.15133/j.ijccr.2018.014

Martignoni, Jens. 2018. “The District Currency : A New Currency Design for Managing the Commons.” International Journal of Community Currency Research 22 (2): 16–38. https://doi.org/10.15133/j.ijccr.2018.014.

Martignoni, Jens. “The District Currency : A New Currency Design for Managing the Commons.” International Journal of Community Currency Research, vol. 22, no. 2, 2018, pp. 16–38, https://doi.org/10.15133/j.ijccr.2018.014.