This pamphlet by David Boyle proposes a radical new approach to tackling poverty and inequalities in London. It argues that London isn’t one economy, it’s three inter-connected ones - international, local and social. But using just one currency, and one interest rate geared to the City of London financial services sector, means that most people who live there are disadvantaged. The author suggests that London learns from the Swiss parallel currency Wir and from the ambitious city-wide time currency in St Louis, by issuing two more city-wide currencies.
Read the document (57 KiB)
Boyle, David. 2000. Why London Needs It’s Own Currency. London: New Economics Foundation. http://www.neweconomics.org/gen/z_sys_PublicationDetail.aspx?PID=1.