Buffalo Bucks Would Be Welcome Change
Now that the national economy is tanking, maybe it's time to put our money where our mouth is. Even now, Neighborhoods in Milwaukee are looking to keep money local by printing a currency that can only be used in small local businesses. It's a great idea, and one that I think Buffalo could certainly capitalize on. Think of it - when you look at our thriving commercial districts, it is the local businessperson who is keeping our economy running. Maybe it's time to throw the small businessperson a bone.
Say you want to go fill your Flying Bison growler with some delicious Rusty Chain beer. Why not convert your $100 US into $110 Buffalo Bucks? The conversion rate is what makes the idea appealing. Keeping the money circulating in the area is the biggest factor however. The movement could start with a progressive Credit Union taking the lead. The shops would have to be open to passing along a 10% discount to Buffalo Bucks members. The members would be issued ID cards as a security measure... why wait for the other small cities to pull it off? The currency wouldn't be good at Walmarts and Home Depots. And that would be welcome change for the small business owner.
There's even an organization that could put this plan together with the right support - Buffalo First.
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Colin
I think Amy's original idea was to create something like Buffalo Bucks.
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RaChaCha
I love this -- and don't forget the Buffalo Nickels!
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al-alo
a silly little criticism, but Buffalo Bucks sounds a little 1980's
how about a version of this:
http://www.intcurrency.com/images/subcategory/$10BuffaloNote.jpg
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RKegler
We did some of our own currency and happy to help design some new ones if this is happening http://www.p22.com/p22dollars.html
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Kimon
I like it!
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RhodeIslandBoy
Ithaca has had a currency (Ithaca Hours) for about 20 years, I think.
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Charger
RIB is right. http://http://www.ithacahours.org/
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sbrof
yeah I heard about Ithaca money a couple years ago. Quirky but it works. Ithaca is easily one of the prettiest and vibrant cities in Update NY. I never hear bad things about it. Maybe 20 years of being able to keep more of their money local helps.
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al-alo
many local currencies seem to base the value of their currency on one hours labor, however - and i dont want everybody to get all crazy and start fiat currency this and gold standard that - and i hate to bring this up . . . but some local currencies are backed by precious metals. .
remember, you promised to not get all crazy.
of course, you dont actually need to print money, a debit card system could be as effective and perhaps easier to implement.
but my degree in micro economics hasnt arrived yet.
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YESYESYES
The Elmwood Village has a Gift certificate program, maybe they could implement a 10% program.
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Rebecca
Colin is right. Amy Kedron, founder of Buffalo First, started out investigating the feasibility of local currency in Buffalo. She researched Ithaca. For one reason or another (she explained it to me but it was years ago, and I forgot) it wasn't feasible. Instead she founded the organization using the BALLE model.
Someone should ask her about Buffalo Bucks, since they're calling out her organization and telling them to take it on. Amy Kedron is about three years ahead of this post.
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SushiaGSG
I think it sounds like a nice idea but I remember seeing something on I think Worldfocus (WNED) and about a city in Europe having a local currency program and still not see much results because most people and tourist buy the money (as a souvenir) and not spend it
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