Deindustrialization as a trauma

by time news

BerlinIn deep structural crises with severe unemployment, there were repeated experiments with local “currencies” in order to support the regional economic cycle. The “free money” in Wörgl in Tyrol during the Great Depression in 1930 is one such example. The Swiss social reformer Silvio Gesell has therefore developed a whole theory of money. Half ironic, half real, a parallel currency was linked in an art campaign that was established in Prenzlauer Berg in the 1990s by the left-wing and anarchic artist scene there. “The Bone”, it was issued against Deutsche Mark, but lost value every week – that should make hoarding the banknotes unattractive and thus intensify the circulation of money.

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