IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/hal-04084716.html
   My bibliography  Save this paper

Mutual credit systems: anti-crisis remedy or anticapitalist monetary device? From Proudhon’s People’s Bank to the WIR Bank – trading without hoarding?
[Les systèmes de crédit mutuel, remède anti-crise ou dispositif monétaire anticapitaliste ? De la Banque du Peuple de Proudhon à la Banque WIR : échanger sans accumuler ?]

Author

Listed:
  • Simon Papaud

    (LEFMI - Laboratoire d’Économie, Finance, Management et Innovation - UR UPJV 4286 - UPJV - Université de Picardie Jules Verne, TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique)

Abstract

Created in 1934, the WIR Bank sought to bring a monetary answer to the economic disorders of its time : its founder, Werner Zimmermann, like his inspirer Silvio Gesell, saw the transformation of the monetary institution both as a remedy to te crisis and a crucial political battleground to fight capitalism. In that, they follow P.- J. Proudhon, whose People's Bank pursued the same goals. Both projects rest on the condemnation of the misusage of money for private accumulation : Proudhon, Gesell and Zimmermann thus outline the image of a monetary system returned to serving the exchanges and social relations.

Suggested Citation

  • Simon Papaud, 2022. "Mutual credit systems: anti-crisis remedy or anticapitalist monetary device? From Proudhon’s People’s Bank to the WIR Bank – trading without hoarding? [Les systèmes de crédit mutuel, remède anti-cr," Working Papers hal-04084716, HAL.
    • Handle: RePEc:hal:wpaper:hal-04084716
    Note: View the original document on HAL open archive server: https://u-picardie.hal.science/hal-04084716
    as

    Download full text from publisher

    File URL: https://u-picardie.hal.science/hal-04084716/document
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jérôme Blanc, 2018. "Les monnaies alternatives," Post-Print halshs-01923088, HAL.
    2. Jean Cartelier, 2018. "Money, Markets, Capital: The Case for a Monetary Analysis," Post-Print hal-01701095, HAL.
    3. Laura Sartori & Paolo Dini, 2016. "From complementary currency to institution: A micro-macro study of the Sardex mutual credit system," Stato e mercato, Società editrice il Mulino, issue 2, pages 273-304.
    4. Luca Fantacci, 2013. "Reforming Money to Exit the Crisis: Examples of Non-capitalist Monetary Systems in Theory and Practice," Palgrave Macmillan Books, in: Jocelyn Pixley & G. C. Harcourt (ed.), Financial Crises and the Nature of Capitalist Money, chapter 7, pages 124-147, Palgrave Macmillan.
    5. Jérôme Blanc, 2018. "« Les monnaies alternatives, bilan d’étape et perspectives »," Post-Print halshs-02044563, HAL.
    6. Sartori, Laura & Dini, Paolo, 2016. "From complementary currency to institution: a micro-macro study of the Sardex mutual credit system," LSE Research Online Documents on Economics 67135, London School of Economics and Political Science, LSE Library.
    7. André Gueslin, 2002. "Les banques de l’économie sociale en France : perspectives historiques," Revue d'Économie Financière, Programme National Persée, vol. 67(3), pages 21-43.
    8. Stodder, James, 2009. "Complementary credit networks and macroeconomic stability: Switzerland's Wirtschaftsring," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 79-95, October.
    9. Cyrille Ferraton & David Vallat, 2011. "Une approche politique du crédit populaire : Pierre-Joseph Proudhon et le crédit mutuel," Post-Print halshs-00594758, HAL.
    10. Stefano Lucarelli & Lucio Gobbi, 2016. "Local clearing unions as stabilizers of local economic systems: a stock flow consistent perspective," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 40(5), pages 1397-1420.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Luigi Doria & Luca Fantacci, 2018. "Evaluating complementary currencies: from the assessment of multiple social qualities to the discovery of a unique monetary sociality," Quality & Quantity: International Journal of Methodology, Springer, vol. 52(3), pages 1291-1314, May.
    2. Louis Larue, 2022. "The case against alternative currencies," Politics, Philosophy & Economics, , vol. 21(1), pages 75-93, February.
    3. Alexandra Lenis Escobar & Ramón Rueda López & Jorge E. García Guerrero & Enrique Salinas Cuadrado, 2020. "Design of Strategies for the Implementation and Management of a Complementary Monetary System Using the SWOT-AHP Methodology," Sustainability, MDPI, vol. 12(17), pages 1-23, August.
    4. Larue, Louis, 2020. "The Ecology of Money: A Critical Assessment," Ecological Economics, Elsevier, vol. 178(C).
    5. Camille Meyer & Marek Hudon, 2019. "Money and the Commons: An Investigation of Complementary Currencies and Their Ethical Implications," Journal of Business Ethics, Springer, vol. 160(1), pages 277-292, November.
    6. Oriane Lafuente-Sampietro, 2021. "The multiplier effect of convertible local currencies : case study on two French schemes," Working Papers halshs-03324625, HAL.
    7. Simon Papaud, 2022. "Libertarian economic thought and non-capitalist money," Working Papers hal-04084725, HAL.
    8. Julien Milanesi & Aude Sturma & Geoffrey Carrere, 2022. "L'écosystème alternatif du Pays Basque français : histoire et structuration," Working Papers hal-03337410, HAL.
    9. Julien Milanesi, 2021. "L'Eusko et son écosystème," Post-Print hal-03416223, HAL.
    10. Edoardo Gaffeo & Mauro Gallegati & Lucio Gobbi, 2022. "Endogenous clearinghouse formation in payment networks," Review of Evolutionary Political Economy, Springer, vol. 3(1), pages 109-136, April.
    11. Julien Milanesi, 2021. "L'écosystème alternatif du Pays Basque français," Working Papers hal-03337411, HAL.
    12. Louis Larue & Camille Meyer & Marek Hudon & Joakim Sandberg, 2022. "The Ethics of Alternative Currencies," ULB Institutional Repository 2013/341622, ULB -- Universite Libre de Bruxelles.
    13. Susana Martín Belmonte & Jordi Puig & Mercè Roca & Marta Segura, 2021. "Crisis Mitigation through Cash Assistance to Increase Local Consumption Levels—A Case Study of a Bimonetary System in Barcelona, Spain," JRFM, MDPI, vol. 14(9), pages 1-17, September.
    14. Nina Stępnicka & Grzegorz Zimon & Dariusz Brzozowiec, 2021. "The Complementary Currency Zielony in Poland and Its Importance for the Development of Local Economy Entities during the COVID-19 Pandemic Lockdown," Sustainability, MDPI, vol. 13(16), pages 1-26, August.
    15. Michel, Arnaud & Hudon, Marek, 2015. "Community currencies and sustainable development: A systematic review," Ecological Economics, Elsevier, vol. 116(C), pages 160-171.
    16. James Stodder & Bernard Lietaer, 2016. "The Macro-Stability of Swiss WIR-Bank Credits: Balance, Velocity, and Leverage," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 58(4), pages 570-605, December.
    17. Mr. Wim Fonteyne, 2007. "Cooperative Banks in Europe—Policy Issues," IMF Working Papers 2007/159, International Monetary Fund.
    18. Rémi Stellian & Gabriel I. Penagos & Jenny P. Danna-Buitrago, 2021. "Firms in financial distress: evidence from inter-firm payment networks with volatility driven by ‘animal spirits’," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 16(1), pages 59-101, January.
    19. Christian Gelleri, 2022. "Creating Monetary Collaborative Spaces for Social and Ecological Transformation," Sustainability, MDPI, vol. 14(23), pages 1-20, November.
    20. Motta, Wallis & Dini, Paolo & Sartori, Laura, 2017. "Self-funded social impact investment: an interdisciplinary analysis of the Sardex mutual credit system," LSE Research Online Documents on Economics 73961, London School of Economics and Political Science, LSE Library.

    More about this item

    Keywords

    Money; Bank; Gesell; Keynes; Monnaie; Banque; Proudhon;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:hal-04084716. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.