Resource title

Regionalwährungen in Deutschland: Lokale Konkurrenz für den Euro?

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Resource description

In a surprisingly growing number of regions in Germany private "regional currencies" are issued as a cash substitute for the euro. Currently, these regional currencies are conceived almost exclusively as Schwundgeld (depreciative currency), which loses value on a predetermined timescale. This loss of value is intended to encourage the money owners to spend their money quickly in order to boost local demand. The paper shows that the issuance of unofficial parallel currencies is not a fundamentally new phenomenon neither in Germany nor in other European countries. The theoretical assumptions of the Schwundgeld concept (Silvio Gesell (1862 – 1930)) are highly flawed and suboptimal from a welfare-theoretical perspective. However, the current economic welfare losses resulting from the issuance of Schwundgeld are negligibly small.

Resource author

Gerhard Rösl

Resource publisher

Resource publish date

Resource language

deu

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/19672

Resource license

Adapt according to the presented license agreement and reference the original author.