13 Feb '12, 6pm

How to save Greece from the technocrats | David Boyle

How to save Greece from the technocrats | David Boyle

Alternative currencies would help economic life for ordinary Greeks continue, even as austerity measures bite. Tweet A year or so ago, an internet joke dropped into my inbox about a man who goes to a motel and asks the manager to put a $100 bill in their safe. While he’s out, the manager uses it to pay off some bills, and it circulates rapidly around town paying off more bills, before it is used to pay a bill at the motel and it goes back into the safe. “That is how a stimulus package works,” says the joke. Maybe it does and maybe it doesn’t, but I recognised it immediately as the story a travelling salesman called Charles Zylstra used in the USA in the early 1930s to popularise the Depression-busting stamp scrip currency. Zylstra’s version is slightly different (the man burns the $10 bill, as it was then, and thanks goodness it wasn’t used, because it was a forgery). The ...

Full article: http://www.neweconomics.org/blog/2012/02/13/how-to-save-g...

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