When Paul Glover founded Ithaca Hours, a local currency in Ithaca, N.Y., more than 20 years ago, he didn’t intend to start a movement. He just wanted to give people in the town a way to invest in their community and each other, even when they didn’t have enough traditional dollars to do so. “I saw that many Ithacans had skills and goods to offer, or wanted to start businesses, but that there were not enough dollars to meet these local needs,” he said. “So I realized that if we were going to have enough money, we’d have to print it ourselves.”
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New Money: The Rise of Alternative Currencies
Posted by: Vivian Wagner January 25, 2012 05:00 AMWhen Paul Glover founded Ithaca Hours, a local currency in Ithaca, N.Y., more than 20 years ago, he didn’t intend to start a movement. He just wanted to give people in the town a way to invest in their community and each other, even when they didn’t have enough traditional dollars to do so. “I saw that many Ithacans had skills and goods to offer, or wanted to start businesses, but that there were not enough dollars to meet these local needs,” he said. “So I realized that if we were going to have enough money, we’d have to print it ourselves.”