Rethinking our Centralized Monetary System: The Case for a System of Local Currencies

Rethinking our Centralized Monetary System: The Case for a System of Local Currencies

by Lewis D. Solomon
     
 

As we approach the 21st century, we must rethink our centralized monetary system as part of a larger reexamination of existing political economy, according to Solomon. In questioning the passive acceptance of a federal monopoly in producing money, the author challenges prevailing notions of progress and economic life. Advancing the idea of local currencies to

Overview

As we approach the 21st century, we must rethink our centralized monetary system as part of a larger reexamination of existing political economy, according to Solomon. In questioning the passive acceptance of a federal monopoly in producing money, the author challenges prevailing notions of progress and economic life. Advancing the idea of local currencies to promote a political economy based on empowerment, self-reliance, and ecological permanence, the book discusses three viable systems, all of which are possible under federal and state laws: barter, customer discounts, and local scrip not pegged to the U.S. dollar. The business and practical aspects of each of these systems is considered. This original work will be of interest to scholars, students, and policy-makers in political economy, money and banking, public finance, and public policy.

Editorial Reviews

Booknews
Solomon (law, George Washington U.) offers a handbook for a radical but, he argues, neither revolutionary nor innovative, solution to currency speculation, soaring national debt, steadily devaluing currencies worldwide, and other failures of a centralized monetary system. He covers the evolution of the monetary and banking systems, the implicit values and the importance of scale in local currencies, the evolution of barter into a modern economic tool, and local currencies pegged and not pegged to the US dollar. A final chapter on legal aspects explains how a local government issuing currency is different from you printing money in your basement. Assumes no background in law or economics. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

ISBN-13:
9780275953768
Publisher:
ABC-CLIO, Incorporated
Publication date:
01/28/1996
Pages:
184
Product dimensions:
6.14(w) x 9.21(h) x 0.50(d)
Lexile:
1530L (what's this?)

Meet the Author

LEWIS D. SOLOMON is Arthur Selwyn Miller Research Professor of Law at the George Washington University Law School. He is the author of 23 books including, most recently, Taxation of Investments (1994) and Corporations: Law and Policy (1994).

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >