Why Local Currency?
A local currency provides real support for our local economy and the unique goods and services it provides. This boost to local commerce safeguards jobs, keeps our locally-owned businesses thriving, promotes the production of local goods and services and differentiates our local culture from big-box stores and “Generic Americana.”
The local economic model promoted by the PLENTY affords the greater use of recycled materials, locally available material, and renewable resources. Decreasing the distance between producers and consumers reduces the need for long-distance transportation. Keeping our downtown businesses and local markets vibrant also preserves the options of walking, cycling, and busing to nearby stores.
Members seek each other out, meet face-to-face, and get to know their neighbors. The PLENTY allows the “small town values” of neighborliness, generosity, and self-reliance to blend with our community’s traditional support for diversity, social justice, and responsible development.
Benefits of a Local Currency
||Spending Local Currency
||Spending US Currency
|The Local Economy
- Promotes buying from local stores and from neighbors, keeping jobs here.
- Fosters the local production of a greater variety of goods and services to meet local demands.
- Makes our economy more dependent on ourselves. We have greater control.
- Keeps money within the local economy.
- Promotes buying from distant locations, including the Internet, catalogs, and chain stores.
- Force’s local production of only those things that are competitive in a global market.
- Makes our economy more dependent on people and events outside of our control.
- Lets money quickly leaves the local economy.
- Encourages use of local resources and local production.
- Results in less pollution and less energy used for shipping.
- Ensures that materials will be used in line with local laws and values.
- Favors disposing of waste in environmentally sound ways.
- Makes consumers aware of the impact of their consumption.
- Encourages use of global resources and distant production.
- Results in more pollution and more energy used for shipping.
- Allows use of materials from places with unknown practices and values.
- Favors disposing of waste by cheapest means possible.
- Keeps consumers unaware of the impact of their consumption.
- Provides support for local labor.
- Distributes wealth more evenly.
- Makes small-scale production viable.
- Creates new jobs at home.
- Forces labor to compete globally.
- Concentrates wealth.
- Encourages industry-scaled production.
- Demands a mobile labor force.