A LOCAL MONEY TO STABILIZE CAPITALISM: the underestimated case of the WIR

Добавить в календарь 2017-03-14 18:00:00 2024-12-24 03:51:41 A LOCAL MONEY TO STABILIZE CAPITALISM: the underestimated case of the WIR Description University info@eusp.org Europe/Moscow public
Date:
14.03.2017
Time:
18:00
Organizer:
University
Speaker:
Department of Economics, University Pierre Mendès-France, Grenoble; Guillaume Vallet

As a result of the current financial crisis, economists have paid increased attention to local monies designed in an effort to create a new kind of economy, as well as new ways to develop social links. This paper seeks to shed light on the WIR money, a local money that has been in existence in Switzerland since the 1930s. We argue that it provides a shield against crises for two significant and connected reasons. First, from a ‘horizontal’ perspective, the WIR is a coherent economic, as well as social, project that relies on the ‘melting money’ principle. Second, from a ‘vertical’ perspective, it is based on a banking model that is anchored to a specific ‘attitude’ designed to manage the monetary common good. The mix between these ‘horizontal’ and ‘vertical’ perspectives is likely to be insightful for other projects like the WIR.

Guillaume Vallet