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"Ozark Hours"

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Author Previous TopicReplies: 4 / Views: 974Next Topic  
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Hollywood's Avatar
United States
1228 Posts
 Posted 05/04/2009  01:11 am Show Profile   Bookmark this topic Add Hollywood to your friends list Get a Link to this Message Number of Subscribers

Quote:
A group of Northwest Arkansas residents is anticipating the day they can use "Ozark Hours" alongside dollars
Pillar of the Community
Hollywood's Avatar
United States
1228 Posts
 Posted 05/04/2009  01:12 am  Show Profile   Bookmark this reply Add Hollywood to your friends list Get a Link to this Reply
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GO's Avatar
United States
6563 Posts
 Posted 05/04/2009  01:16 am  Show Profile   Check GO's eBay Listings Bookmark this reply Add GO to your friends list Get a Link to this Reply
It's all well and good until you factor in the inflation of the products that the merchants have to ship into their stores from outside sources. If this new system that is being used all over the country is working so well...then how are they coping with raised prices on so many things?
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Peter THOMAS's Avatar
Australia
2830 Posts
 Posted 05/04/2009  02:15 am  Show Profile   Bookmark this reply Add Peter THOMAS to your friends list Get a Link to this Reply

quote: "All of our money is backed by nothing. ..."
- how is this new scheme any different, or better ?

quote: "People typically buy the local currency for less than its U.S. dollar value, providing incentive to join the system and shop locally, Buonaiuto said."
- the first step toward inflation

Peter in Oz


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dreamstones's Avatar
United States
292 Posts
 Posted 05/05/2009  06:33 am  Show Profile   Bookmark this reply Add dreamstones to your friends list Get a Link to this Reply
The Ithaca hours that these are based on trade at face value (to help avoid inflation). This is simply another type of barter system to help keep local folks buying local products. They can be cashed in for dollars at several places within Ithaca at any time. The concept does work but you HAVE to get enough local businesses to buy in to make it viable...after all we have been using barter systems for thousands of years (still do-trading dollars for goods and services on the belief that dollars are "worth" the stated amount and goods priced accordingly)
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