Archive for November, 2011
Berkshares – A Revolutionary Economic Response from the Cradle of the Revolution!
By Emerson Sandow
It does not surprise one that a revolutionary idea in dealing with a sagging economy comes out of the Berkshire region of Western Massachusetts. This land of beautiful rolling hills and quiet valleys lies between Boston and Albany, NY, and saw much secret activity during the pre-Revolutionary period of America. Many of the Founders traveled through – and stayed overnight – in the Berkshires’ many inns and no doubt plans were whispered that ultimately gave us our United States.
Now, a group of businessmen have devised a brilliant but simple plan to stimulate and protect the commerce of local merchants and services: BerkShares! Berkshares keep the “money” in the local pockets and provide a slight discount to users over US dollars. For instance, a $1 coffee costs 1 Berkshare, even though the Berkshare is valued at $.90. Of course, this is hardly felt, and the important factor is that the value of Berkshares can be controlled by the people of the region, while Washington and the Federal Reserve control the value of US dollars.
The organizers of Berkshares are contemplating an expansion – they have five local banks already partnering with them and they envision checking accounts, ATMs, electronic transfers of funds and even loan programs to fund local businesses’ creating the products that are used locally. In keeping the flavor of locality, each of the five denomination of Berkshares bear the likeness of a local “hero”: Illustrator, Norman Rockwell; “Moby Dick” author, Herman Melville; the Berkshire Mohicans (an Algonquin nation that was prominent in the area of the upper Hudson); African-American intellectual leader, W.E.B. DuBois and the late Robyn Van En, widely acknowledged as the first person to create a community supported agriculture (CSA) project in North America, beginning in 1985.
Around the country there are other local groups with similar programs, such as California, Kansas, Michigan, New York, Oregon, Pennsylvania, Vermont and Wisconsin. One of the oldest of these is Ithaca Hours, which went into circulation in 1991 in Ithaca , New York .
Let Berkshares inspire you to create a local currency or barter system for your community by visiting www.berkshares.org and seeing what these hearty descendants of the Revolutionaries are up to! E.S.
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