Local Knowledge is Local PowerLocal currencies can successfully increase local cohesion, economic resilience, and environmental stewardship but their small scales result in smaller effects. They are, by design, limited in scope and scale; lacking in the ability to interact more broadly with the global economy. Still, they are more effective at encoding locally beneficial economic behaviour and improving social outcomes for their communities. Today, this scaling limit leaves local currencies a...

Today, the monetary basis of society captures only a single good: trust. While the cumulative physical and human capital of a society function to back the perceived value of a currency, they still rely on a fundamental social agreement. People need to agree to use it in order for currency to carry value. The currency itself must be managed in a way which represents the interests of the greater whole. It is an alignment through social consensus which states that neutral economic value may be a...