Post Carbon Fellow Michael Shuman's book Local Dollars Local Sense was cited as an inspiration for this post about the idea of a local currency for Chattanooga.
From the article:
The lococentric theory of prosperity for Chattanooga seeks to enable local investors to put money into local businesses.
Uncle’s laws prevent local investment, and years of propaganda by the financial industry makes people not see local possibilities for capitalization and profit, as we learned from Michael Shuman in his book “Local Dollars, Local Sense.”
If Chattanooga is to withstand the coming buffetings in the national economy ignited by Uncle’s drunken excesses, residents might be wise to establish a vehicle whereby local business owners obtain capital from investors.
Chattanooga needs an internal marketplace for money that bypasses Wall Street and Washington.
Possibly the best vehicle for this development would be a co-op.