Frontiers of Commoning, with David Bollier Rachel Moriarty on BerkShares
May 1, 2020
Rachel Moriarty, the Coordinator of the Berkshires Local Currency program, dives into the fascinating evolution of BerkShares, one of the world's most successful local currencies. She highlights the importance of community-driven finance and discusses the innovative SHARE loan program that supports local businesses. Rachel reveals how BerkShares transitioned from a weekend initiative to a year-round currency, emphasizing local identity and resource reclamation. With insights on its legal framework and artistic design, this conversation is a deep exploration of economic localization.
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Local Money Tackles Deep Structural Problems
- Local currencies address intertwined problems of land commodification, centralized money, and community collapse.
- Rachel Moriarty frames BerkShares as part of rebuilding a human-scale, community-rooted economy.
Community Loan Pool Repaired A Struggling Cleaner
- The SHARE program pooled small savings to collateralize loans and built personal accountability between lenders and borrowers.
- When a borrower missed payments, community members hired his cleaning company to help him repay the loan.
Deli Dollars And Farm Preserve Notes
- A deli owner issued 'deli dollars' to customers to fund his move, selling them at a discount and signing each note.
- Farmers later issued similar script notes to rebuild after a fire, featuring local imagery and playful slogans.