The Sardex Experience
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The use of just one currency within a vast geographical area is a relatively recent historical development, related to the formation of nation-states. However, money proliferation continues: over the last thirty years 4500 complementary currency systems, community credit and alternative financial systems have come into being. This chapter gives an overview of the phenomena followed by the presentation of the currency forerunners of Sardex: medieval currencies, the Austrian Wörgl, and the Swiss Wir, the last two were developed during the great recession of the 1930’. Then, the Sardex complementary currency is presented in detail. The project was developed in 2009 by five young Sardinian friends with an innovative vision of economic functioning and its members and transactions have increased every year since then. Sardex has been replicated in eleven other regions and similar projects have been started in other countries. Its innovative characters include interest-free money and mutual credit, a members’ network and a broker service with strategies for increasing transactions.
KeywordsMoney Complementary currency Sardex Sardinia Wir Wörgl Medieval currencies Great recession Social economy Mutual credit
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