Acta Univ. Agric. Silvic. Mendelianae Brun. 2012, 60(4), 289-298 | DOI: 10.11118/actaun201260040289

Feasibility of selected private money

Lukáš Nevěděl
Ústav demografie a aplikované statistiky, Fakulta regionálního rozvoje a mezinárodních studií, Mendelova univerzita v Brně, Generála Píky 7, Brno, 603 00, Česká republika

The goal of the entry: "Feasibility of selected private money" is the assessment of practicability of selected private money types as future currency especially in terms of attributes that the currency should meet to fulfil all claims required by its users. In the first step the features that the widely used currency has to have will be described and it will be analysed which of these features are characteristic for nowadays currencies (Czech crown and Euro) too. In the second step private (unnationalized) money will be described as well as several concepts derived from it. The paper will concern mainly on Hayek's concept of private money and on particular variations of Local exchange trading systems. In the next part there will be pointed out good and bad features of these types of money, mainly from the view of characteristics that the proper currency should have. At the end it will be carried out the comparison of bad and good effects resulting from using of particular currencies types and I will decide about the applicability of analysed private money types.
The paper uses the standard methods of scientific work. Firstly, the method of description is used to describe the development of private money concepts and characteristic features that the currency should have. Then, a comparative analysis is used to discuss the differences between contemporary currencies and unnationalized currencies as well as between required and real features of particular private money. At the end the method of synthesis, deduction and induction is used.

Keywords: private money, LETS, LET System, feasibility, local currencies, functions of money
Grants and funding:

The paper has arisen of the research project of FBE MUAF Brno, MSM 6215648904 "Czech economy in the process of integration and globalization and the development of agrarian sector and sector of services in new conditions of European integrated market".

Received: February 20, 2012; Published: August 7, 2013  Show citation

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Nevěděl, L. (2012). Feasibility of selected private money. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 60(4), 289-298. doi: 10.11118/actaun201260040289
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