This is a republished version of an article appearing on the Financial Permaculture blog
and as an article for Hope Dance Magazine
Happenings in Hohenwald
by Greg Landua
With the National and Global Economies in a downward spiral, people are looking around for real life alternatives. One of the most tangible results from the course was the injection of over $28,000 into the local economy. When combined with an experiment in local currency issued by the Lewis County Chamber of Commerce, the economic multiplier (the number of times money circulates through a local economy before exiting) was raised by an estimated 3.8 percent on $5,000, which boosted the total net economic gain from the course to $47,000. The Local Currency was a hit at many of the businesses, and there are plans to start consulting with local bankers to work toward making a countywide regional currency to help boost the local economy.