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Complementary Money for Democracy : A multiple-case study of four complementary currencies in northwestern Europe from a perspective of radical democracy

Fredriksson, Lisa LU (2023) MIDM19 20231
Department of Human Geography
LUMID International Master programme in applied International Development and Management
Abstract
Democracy is facing mounting challenges in today’s globalised world, with rising inequalities and unsustainable practices. Yet money creation and design are kept independent of popular control despite the substantial impacts they have on the development of society and the well-being of its citizens. Some movements have challenged this demarcation and created their own currencies; complementary currency initiatives. This study aims to explore in what ways they may contribute to a democratic society and economic democracy. It utilises a qualitative, multiple-case study design examining four complementary currencies in northwestern Europe and explores commonalities in the potential ways they contribute to a democratisation of the economy.... (More)
Democracy is facing mounting challenges in today’s globalised world, with rising inequalities and unsustainable practices. Yet money creation and design are kept independent of popular control despite the substantial impacts they have on the development of society and the well-being of its citizens. Some movements have challenged this demarcation and created their own currencies; complementary currency initiatives. This study aims to explore in what ways they may contribute to a democratic society and economic democracy. It utilises a qualitative, multiple-case study design examining four complementary currencies in northwestern Europe and explores commonalities in the potential ways they contribute to a democratisation of the economy. Through semi-structured interviews with representatives and members of these currencies, examined through thematic analysis, it finds that they contribute to democracy by creating a community characterised by mutual support, transparency and accountability; to politicising money creation through the promotion of reflection and education; and in protecting local economic power and diversity. Thus, by keeping money local, the population has a new tool to construct their circumstances according to their needs. However, further research is required to measure these impacts in more detail while contrasting different currency designs and contexts. (Less)
Please use this url to cite or link to this publication:
author
Fredriksson, Lisa LU
supervisor
organization
course
MIDM19 20231
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Democracy, Radical Democracy, Economic Democracy, Complementary Currencies, Money, Globalisation, Localisation
language
English
id
9120519
date added to LUP
2023-06-08 15:26:02
date last changed
2023-06-16 08:28:17
@misc{9120519,
  abstract     = {{Democracy is facing mounting challenges in today’s globalised world, with rising inequalities and unsustainable practices. Yet money creation and design are kept independent of popular control despite the substantial impacts they have on the development of society and the well-being of its citizens. Some movements have challenged this demarcation and created their own currencies; complementary currency initiatives. This study aims to explore in what ways they may contribute to a democratic society and economic democracy. It utilises a qualitative, multiple-case study design examining four complementary currencies in northwestern Europe and explores commonalities in the potential ways they contribute to a democratisation of the economy. Through semi-structured interviews with representatives and members of these currencies, examined through thematic analysis, it finds that they contribute to democracy by creating a community characterised by mutual support, transparency and accountability; to politicising money creation through the promotion of reflection and education; and in protecting local economic power and diversity. Thus, by keeping money local, the population has a new tool to construct their circumstances according to their needs. However, further research is required to measure these impacts in more detail while contrasting different currency designs and contexts.}},
  author       = {{Fredriksson, Lisa}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Complementary Money for Democracy : A multiple-case study of four complementary currencies in northwestern Europe from a perspective of radical democracy}},
  year         = {{2023}},
}