Free Talk Live

There’s actually quite a bit to learn from the history of Islamic coinage that could benefit the alternative currency movement today. In the 7th century the Arabian Peninsula was inhabited almost entirely by nomadic tribes of Bedouins. Arabian markets were flush with Roman and Persian silver coins, but when those Empires began debasing their currencies Muslims began to mint their own. So, from the outset the industry of Islamic coins was a movement to provide an honest alternative to fraudulent currency.

The trending toward alternative currencies in Michigan have been getting more attention since last week, when Connect Mid-Michigan did a short write up about it. There has been recent discussion both in blogs and mainstream media, including The Financial Post and NBC.

If all the world’s informal markets were formed into a single independent nation, its $10 trillion economy would be the second-largest on the planet (behind only the US). These markets thrive in places where taxes are low, poverty is high, and resources are scarce. The colors on this map indicate the size of each country’s underground economy, as a percentage of its GDP

For as long as there have been laws, there have been black markets to sell whatever those laws prohibit -- drugs, guns, whatever Han Solo was shipping on behalf of Jabba during his smuggler days. But not every law is as clear-cut as "machine guns and heroin are bad," and not every black market item is as menacing as those. In fact, you'd be utterly baffled to see what's getting traded in the shadows these days, considering it includes things like ...

Three economists — including one rejected by the Senate as too inexperienced to work at the Federal Reserve — have won the Nobel prize in economics for their work in explaining why markets sometimes don’t work so well. The problem with unemployment is that, theoretically, it shouldn’t exist. Efficient market theory says unemployed workers should always be able to find a job if they just lower their standards enough, just as all employers should be able to find workers if they just lower theirs. By this theory, all unemployment is voluntary. (Maybe it would be in a free market.)

A model for todays markets?

BBC points out in an article about the late pioneer of low cost air travel, founder of Jet Blue and free market economist Alfred E Kahn that airline ticket costs were reduced dramatically when government was taken out of the process.

determination to ‘move beyond anger to creativity’ is driving a strong barter economy in some places

Local alternative currency in Summit County, CO, "Mountain Hours" is becoming more popular.

John Bush, a local activist from Austin, Tx. was previously banned from speaking to Austin City Council for a year, previously. Finally, Council realizes they can't be dictators forever - and allow the man to speak. Ownage ensues.