Not A Bad Idea

Brooklyn Torches. A few artists in Brooklyn are creating an alternative currency to encourage folks to shop locally.

Mary Jeys, who initiated the effort, says “This medium of exchange has more to do with meeting people and feeling that you’re connected to a community versus a monetary system.”

Obviously I don't think of this as having a real economic impact, but I like the idea of playing around with everyday behavior to spice things up a little bit. It sounds kinda fun. I wouldn't invest in a bank of torches, but I'd buy breakfast and lunch with them. Question - how do you earn torches? What stops the torch-makers from just printing more and more money and lining their own pockets and those of their friends? Wait a second...that sounds familiar.

(In writing this, I expect this experiment, if it caught on, might yield unexpected economic lessons to the participants)