Specific Place Meaning

• Community or local groups make attempts to influence or create specific place-meanings and thereby shape the actions and behaviours of individuals, groups, businesses and institutions
• Money that is re-spent locally is the same as attracting new money into that area.
• Local circulation of money

  1. Person spends a pound at a local shop

  2. Shop owner re-spends it by buying supplies from another local business, or paying local taxes

  3. Process can be repeated with exchanges kept within the local economy
• Local multiplier effect


  Additional economic benefits for the area from local circulation of money
• Sterling Pounds spent at a supermarket chain typically leads to more than 80% of the money leaving the area almost immediately.
• Benefits of local currencies

  • Potentially stimulate the local economy
  • Create stronger bonds within the community by increasing social capital
  • Decrease emissions as locally produced goods require less transportation
  • Reduce impact of national economic crises and dependency on international trade, and enhance self-sufficiency
  • Increase awareness of the impact of one's economic activity
• Community or local groups, government, and modern housing developers can create specific place-meanings