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4. Finally, the Spanish 'La Kalle' project is implemented in Vallecas, near Madrid. With 200,000 inhabitants, this is one of the largest working-class neighbourhoods in the country. The unit of account is the BIGS equivalent to 100 pesetas. Interest-free loans are available automatically up to the equivalent of 50,000 pesetas, and after approval from a credit committee for larger amounts. One operating rule is that at least 25% of any trade has to involve BICS units. Japan Toshiharu Kato, the Director of Service Industries Division of the Ministry of International Trade and Industry MITI) the powerful coordination mechanism between government and the corporate world in Japan - completed personally a three-year study in the US of two types of high-tech development models: the 'Route 128 model' and the 'Silicon Valley model'. The former is named after the development of high-tech companies around a nucleus of large corporations (e.g. Raytheon and Hewlett Packard) and universities (e.g. MIT) in the Boston area; the latter refers to the proliferation of small high-tech computer companies and venture capital firms southeast of San Francisco near Stanford University. He concluded that the 'Silicon Valley Wave', based on high-density contacts among hundreds of small corporations (without large companies at the centre), is the wave of the future for Japan. More impressive still, he pushed his regional development strategy to its logical conclusion by introducing a new concept of regional currencies, which he called 'eco-money' (see sidebar). From four initial pilot projects the experiment has now expanded to ten different implementation models. They vary from a small village (Yamada in the Toyama prefecture) to a town of 16,000 people (Kuriyama in Hokkaido) and whole prefectures (equivalent to a county, specifically Shizuoka, Chiba and Shiga). Some include LETS
type currencies, others Hureai Kippu (described in the next chapter) and still others integrate various services into a single smart-card system. An impressive list of 27 different types of activities are being integrated by using eco-money, including welfare, education, disaster prevention, environmental protection, services promoting the understanding of cultural assets, as well as a series of 'civil businesses' such as enterprises providing natural foods for children with allergies to chemicals, production of soap made from recycled cooking oil, and at-home care for the sick and elderly. As of October 1999, besides the ten pilot projects, another thirty are in an 'assessment' stage (designing the specifications of their own systems, while evaluating the results of the ten pilot projects). These projects are being combined with the generalisation of the use of anart cards by the Ministry of Health and Welfare. Already one of the smart-card pilots in Yokosuka combines health insurance data with eco-money and normal national currency usable for everyday shopping. Plans for a 'Next Generation Info-Community Network' expand that concept to include medical care support and allergies data, safety confirmation systems for natural disasters, various licences, public ID, Internet as well as physical mall shopping, phone card and discount services for long-distance phone calls, petrol and other services available at discount rates, public transport and travel mileage services. Whether all these functions will end up on a single smart card or not, the main point remains valid: Japan is determined to be a leader in regional development strategies for the Information Age, and is using the appropriate tool of complementary currencies to achieve it. Some big corporations are getting involved in this eco-money process: for instance Nippon Telegraph and Telephone (NIT) is developing software systems in the context of its 'Daily Life Welfare Information Network' project (which includes city governance, local
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THE FUTURE OF MONEY Bernard A. Liet
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*Monetary Instability; * and an Inf
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First and foremost, these money inn
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Stories There will also be stories
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1992, remarked. ‘I used to think
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to entirely computerize the traditi
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All four of these megatrends will b
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The following hard 'money question'
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important factor of production is b
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he or she would be ruthlessly punis
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Cardon Cartoon 'Remaining locked in
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system in our own bodies (see sideb
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Please note that none of the approa
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All four cameos are set in the year
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official national clearinghouse to
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With the growth in productivity tha
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hundred such grass-roots projects a
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Cathedrals' (the 'Central Middle Ag
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Without throwing away the positive
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But let us begin at the beginning,
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Less obvious is the mechanism of th
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The Arab scholar Ibn Khaldun claime
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Matters of belief and social conven
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paper that stated where the metal w
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and imagination, launched or comple
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What happened instead was a slow an
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arrangement has serious negative co
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anker has an additional veil. In th
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The story from Australia (see box)
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the eleventh round - as part of the
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A third systematic effect of intere
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ealistic possibilities for graduall
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Just one facet of it - the Internet
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the more of us have it. Government
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intervene in (or muck up, depending
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automatically to crowd out competit
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$29.95 CD ROM version of the game h
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paper books, a printer-binder - loc
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The real revolution of possibilitie
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In Open Finance, the financial inst
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'We can be knowledgeable with other
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They just evolved and ended up refl
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Peter Schwartz, president of the Gl
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with this Official Future is that i
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the remaining 5% will succeed at pe
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with him, perhaps because this was
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payment and phone call made with tr
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He continued, 'The turning point fo
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these cyber-terrorists. "Love it, o
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financial deal in history so far, a
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specialised issuing corporations wi
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their goods. CUC presents that info
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demographic, and transaction data H
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The most effective solution for avo
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· Since May 1998 in Berlin, German
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mysteries of the universe they live
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· However, there is also a growing
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will have enough money to run an el
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In 2WO, my folks moved to idaho to
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I think I'll try to take you to Eur
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Professor Robert Guttman of the Eco
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as a monetary problem in the late 1
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2020: The girl in the nightmare on
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parents. Most of them had either be
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what was left of his hair. The comb
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long as they could remember. Their
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Figure 4.5 shows that the number of
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that 23% failed to participate beca
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street in our cities could become a
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occurring. And they are not the onl
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the ride over the next couple of de
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This topic will be tackled by explo
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Page 147 and 148: ecame competitive with the Third Wo
Page 149 and 150: ecause I was there at the beginning
Page 151 and 152: now to 2010, has focused on cutting
Page 153 and 154: that his factory workers could buy
Page 155 and 156: Socio-political consequences Within
Page 157 and 158: iot troops). The fighting lasted th
Page 159 and 160: Everybody takes a defensive positio
Page 161 and 162: that we can always create jobs by p
Page 163 and 164: usiness boom cycle, or whether we a
Page 165 and 166: The game can be played with one or
Page 167 and 168: that many have jobs but are not doi
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Page 171 and 172: hoarding fee technically called 'de
Page 173 and 174: 1933 (Figure 5.1). This graph also
Page 175 and 176: year, Unterguggenberger addressed a
Page 177 and 178: complementary currency systems as '
Page 179 and 180: have this power should not amaze us
Page 181 and 182: In contrast, a complementary curren
Page 183 and 184: freshly baked whole wheat bread. Am
Page 185 and 186: to goods and services they might no
Page 187 and 188: David James, a Quaker from Whangare
Page 189 and 190: Currently, Australia has the highes
Page 191 and 192: underlying principle - I dared more
Page 193 and 194: asset. As is true with all currenci
Page 195: has an interest-free (unsecured) li
Page 199 and 200: The Cafe de la Paz in Berkeley, CA,
Page 201 and 202: that more economic activity - imply
Page 203 and 204: society provide the elderly with th
Page 205 and 206: Anthropologists have found that com
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Page 213 and 214: currencies. Practice has demonstrat
Page 215 and 216: credit for one hour, while Joe gets
Page 217 and 218: In a world where pensioners are bec
Page 219 and 220: than dollars, you may prefer to go
Page 221 and 222: more human contact, more communicat
Page 223 and 224: uilding streets, Lerner's team inve
Page 225 and 226: on the condition that the other sid
Page 227 and 228: and a higher educational level than
Page 229 and 230: The Japanese population is the seco
Page 231 and 232: effectively. But it has nevertheles
Page 233 and 234: culture. He said: 'Today we are inc
Page 235 and 236: system ledger for transparent accou
Page 237 and 238: All the pieces of the puzzle, inclu
Page 239 and 240: component should always more than c
Page 241 and 242: communities have not always been aw
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an interest in accepting well- desi
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described in the previous chapter -
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There are several significant reaso
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mind, it may well be currency,' sai
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What is at stake is quite substanti
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Furthermore, there is a growing con
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different reactions to the same com
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The US went one step further by hav
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2 Such improvements do not require
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The hard part of creating currency
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table should help in such a selecti
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is the ROCS, because it brings toge
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· 'Faced with widespread destructi
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We should start by acknowledging th
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the rate at which humanity destroys
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The importance of realigning financ
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ick wall with his forehead, he was
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duration of the project. (All value
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· and an adjustment reflecting the
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‘sustainability fee'. Now, what w
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(Note: the specific commodities, th
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just as today's decision of which n
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Revenue' in determining the demand
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as early as Pharaonic Egypt. It was
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therefore be fully backed, ensuring
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Such a strategy can be initiated as
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alliance among businesses would be
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The site was familiar - I could per
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dozens of names involved in Chaos a
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evolutionary step. Well, to us now
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other she wasn't. This amounted to
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circumstance. Convertibility among
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A Taoist viewpoint: All is about ba
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The Yin-Yang coherence I will now i
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Yang Yin Effects on Scarce/Competit
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competition among the participants
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Two important studies on Sustainabi
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The 'Cultural Creatives': the only
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knew each other. Ah of this was tru
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'Out of 88,000 practicing acupunctu
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This section will deal with the det
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will predictably kill the very inno
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My purpose in this book has been to
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1960s: Development of large-scale p
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each maturity only when a single cu
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2005: The last European holdout, Br
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1990’s: Age of corporate downsizi
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Both 'Mr Yamada's Retirement Plan'
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If Toffler is right, and if a monet
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This book delves into our collectiv
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'When I was young, I thought that m
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As the nation-states became the pow
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enterprises', a definition quite co
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usiness or consumer loans. This is
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A stock is a fraction of ownership
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perspective. Such volume amounts to
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whose values would be determined pr
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you know what you are doing, the re
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demonstrated time and again - from
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arrangements have made any signific
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developments in the currency market
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Stable or unstable, that is the que
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We started this Primer with the que
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Watutsi in Africa -'He is worth one
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national currencies); changes in ke
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Floating Exchange Rate: Rate at whi
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LETS: Acronym for Local Exchange Tr
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Scrip: Private currency usually ini
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