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6 - Sovereign Money

Published online by Cambridge University Press:  28 April 2018

Beat Weber
Affiliation:
Oesterreichische Nationalbank
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Summary

Can money be contained within a local area of circulation and stripped of its function to store value? Concepts for regional currencies try to reform money by complementing national currencies with local means of payment intended to possess these two features. Currency users are asked to forego personal benefits of using national currencies in order to support their regional community. But using a local currency is neither the only nor necessarily the best way for making such individual sacrifices. To a large extent, the stress put on reforming money in regional currency theories results from misunderstanding the role of money in macroeconomics.
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Chapter
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Democratizing Money?
Debating Legitimacy in Monetary Reform Proposals
, pp. 160 - 192
Publisher: Cambridge University Press
Print publication year: 2018

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  • Sovereign Money
  • Beat Weber
  • Book: Democratizing Money?
  • Online publication: 28 April 2018
  • Chapter DOI: https://doi.org/10.1017/9781108164399.007
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  • Sovereign Money
  • Beat Weber
  • Book: Democratizing Money?
  • Online publication: 28 April 2018
  • Chapter DOI: https://doi.org/10.1017/9781108164399.007
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Sovereign Money
  • Beat Weber
  • Book: Democratizing Money?
  • Online publication: 28 April 2018
  • Chapter DOI: https://doi.org/10.1017/9781108164399.007
Available formats
×