Little Red Blogger

This blog looks at radical politics(with a libertarian socialist slant), music and culture. Marx to Mises, Girls Aloud to Steve Reich...

Location: Wiltshire, United Kingdom

Friday, March 04, 2005

Livingstone's Rather Excellent Funny Money

Ken Livingstone is known to be iconoclastic when it comes to his policies for London. His latest suggestion is that Londoners should have access to a new form of electronic currency or 'e-money' as he puts it. This currency will unfortunately be backed up by the current banking system and seems to be more of a replacement for small change than a complete local replacement currency. But it is a start and may develop into a proper LETS or an alternative currency.

Now as a Mutualist I am in favour of more rather than less currencies. From a supranational Euro via the Pound to local and regional currencies. so this is an interesting development and Mutualists should encourage it further, as it leads to further economic de-centralisation allowing people greater control over their own lives and partially frees them from the central bankers money monopoly.