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'In money we trust': the issue of confidence in money in the Swiss WIR system

In: Central Banking, Monetary Policy and the Future of Money

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  • Guillaume Vallet

Abstract

This paper addresses the issue of confidence in money by looking at the specific case of the WIR, a Swiss local currency in circulation for over eighty years. It relies on the three keystones identified by such French institutionalist authors as Michel Aglietta, André Orléan and Bruno Théret - methodical, hierarchical and ethical confidence. It argues that confidence in the WIR is strongest when these three conditions are met. Analyzing the interconnectedness of money as a "process" ‚Äì enmeshed with both a specific community and the entire Swiss monetary system - it explores the WIR's dual relationship with monetary unity and plural forms of money in a given monetary space.

Suggested Citation

  • Guillaume Vallet, 2022. "'In money we trust': the issue of confidence in money in the Swiss WIR system," Chapters, in: Guillaume Vallet & Sylvio Kappes & Louis-Philippe Rochon (ed.), Central Banking, Monetary Policy and the Future of Money, chapter 11, pages 272-301, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20227_11
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