Complementary Money for Democracy : A multiple-case study of four complementary currencies in northwestern Europe from a perspective of radical democracy

Sammanfattning: Democracy is facing mounting challenges in today’s globalised world, with rising inequalities and unsustainable practices. Yet money creation and design are kept independent of popular control despite the substantial impacts they have on the development of society and the well-being of its citizens. Some movements have challenged this demarcation and created their own currencies; complementary currency initiatives. This study aims to explore in what ways they may contribute to a democratic society and economic democracy. It utilises a qualitative, multiple-case study design examining four complementary currencies in northwestern Europe and explores commonalities in the potential ways they contribute to a democratisation of the economy. Through semi-structured interviews with representatives and members of these currencies, examined through thematic analysis, it finds that they contribute to democracy by creating a community characterised by mutual support, transparency and accountability; to politicising money creation through the promotion of reflection and education; and in protecting local economic power and diversity. Thus, by keeping money local, the population has a new tool to construct their circumstances according to their needs. However, further research is required to measure these impacts in more detail while contrasting different currency designs and contexts.