14August2009
Alternative money system: WIR as complementary currency
Posted by Cecilia under: Economy.
WIR is an independent complementary currency system in Switzerland founded in 1934 by Swiss businessmen as a result of currency shortages after the stock market crash of 1929. It works as a Swiss local currency for business to business transactions based on mutual credit. WIR money only exists as a bookkeeping system, there are no interest charges on it.
The name WIR is an abbreviation of Wirtschaftsring (Economic Circle) and at the same time the word for “we” in German. Both meanings remind us that the WIR circle is a community because the WIR money serves only small and medium sized businesses.
About 600,000 Swiss businesses still accept WIR as money. It was retained to keep the buying power of the members inside the community. This also points out the problem with this alternative money system: Getting payed in WIR money means that people can only spend this money in the strict circle of the member businesses.
A society of esteem wouldn’t create its own system inside the social system. For a society of esteem it’s important that all working power and all kinds of talents are focused for the good of all.
The Greeks regarded with jealousy the huge trading activities of the Etruscans, which extended to the African continent. They accused the Etruscan ships of being pirates and therefore to be a danger to the whole Mediterranean sea. In reality it was a small number of Greek pirates who were a danger to the coasts of ancient Italy, Greece and Cyprus.
We would be remiss if we forgot to mention how highly skilled the Etruscans were with all kinds of metals. They developed technology for mining metals such as gold, copper, iron, tin and bronze in an environmentally responsible way and to process them in ways unknown to the rest of the ancient world.
Looking at Etruscan paintings and sculptures we see 