Michel Bauwens: As Spain’s Recession Darkens, Alternative Economies Rise

Economics/True Cost
Michel Bauwens

Published on Tuesday, August 28, 2012 by Common Dreams

As Spain’s Recession Darkens, Alternative Economies Rise

– Common Dreams staff

As Spain’s economic recession has continued to deepen, conditions for people within the country are expected to get worse following austerity measures that increasingly cut into everyday economic survival, Reuters reports Tuesday. However, as many economists grapple over numbers, and search for signs of hope for a free market revival, many people within Spain have increasingly started to turn to alternative currency systems, or parallel euro-free economies — giving up the ghost of a neoliberal recovery in exchange for a new way.. . . . . . . .

There are now more than 325 time banks and alternative currency systems in Spain involving tens of thousands of citizens. The projects represent one of the largest experiments in “social money” in modern times.

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