lcur:local_currencies

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lcur:local_currencies [2026/10/04 06:35] – external edit 127.0.0.1lcur:local_currencies [2026/10/15 10:07] (current) – [History] Simon Grant
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 Independent currencies have often been set up in reaction to economic crashes. For example, several schemes were set up in Europe during the Great Depression. Wörgl in Austria created [a local scrip currency](https://www.lietaer.com/2010/03/the-worgl-experiment/) in the early 1930s, thanks to which employment increased, infrastructure projects were built, and new businesses bloomed. It was so successful that the central bank panicked, and ’emergency currencies’ like Wörgl’s were banned. Independent currencies have often been set up in reaction to economic crashes. For example, several schemes were set up in Europe during the Great Depression. Wörgl in Austria created [a local scrip currency](https://www.lietaer.com/2010/03/the-worgl-experiment/) in the early 1930s, thanks to which employment increased, infrastructure projects were built, and new businesses bloomed. It was so successful that the central bank panicked, and ’emergency currencies’ like Wörgl’s were banned.
  
-In the 1980s, Michael Linton came up with [Local Economy Trading Schemes (LETS)](wp>Local_exchange_trading_system) and these took off in communities all around the world. These are in effect IOU schemes, enabling trade and exchange between community members. Like the Wörgl, these have the effect of helping those who don’t have access to mainstream money to trade goods and services.+In the 1980s, Michael Linton came up with [[c:LETS|Local Economy Trading Schemes (LETS)]] and these took off in communities all around the world. These are in effect IOU schemes, enabling trade and exchange between community members. Like the Wörgl, these have the effect of helping those who don’t have access to mainstream money to trade goods and services.
  
 Timebanking schemes are similar to LETS but bring an egalitarian approach to community trade. An hour of your time is worth the same as an hour of my time, regardless of the services we’re providing. Timebanking schemes are similar to LETS but bring an egalitarian approach to community trade. An hour of your time is worth the same as an hour of my time, regardless of the services we’re providing.
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