View Full Version : Ithaca Hours
06-14-2001, 06:58 PM
As I read on this site here, (http://www.lightlink.com/hours/ithacahours/) Ithaca, NY has it's own local currency. The website paints this as that it is so much better than using regular money. Is the use of local currency really that amazing? Are there any Ithancans(?) on the board that could field this?
06-14-2001, 07:26 PM
The use of a local currency has occured off and on in the histroy of the USA. A local currency causes money spent in a economy to stay in that town/commune/whatever. It's usually good for the community, but bad for the individual because it is somewhat less usefull that regular money.
All casinos use a local currency.
06-14-2001, 10:02 PM
I've never actually lived in Ithaca, but I live nearby and I've spent enough time there to be somewhat familiar with their hour currency. Basically, it's an attempt to institute a barter system with paper IOU's to keep track. Apparently the point is to try to run the economy with sullying things with Amerikan currency. I'd guess a ringing endorsement by a right-wing militia group would end whatever enthusiasm for the idea still exists.
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