High-Tech Parallel Monetary Systems in Times of Crisis

• Essay: What if the Greeks, Portuguese, Irish, Baltics, Spaniards, and Italians did this: high-tech parallel monetary systems for the underdogs? By Trond Andresen [The Norwegian University of Science and Technology1, Norway]

URL = http://rwer.wordpress.com/2012/03/12/rwer-issue-59/

Abstract

"Advances in information technology now make it possible for non-government entities, or governments themselves, to establish and run a national parallel paperless monetary system at very low cost and launch it on very short notice. The workings of such a system is described and discussed. Such systems may ameliorate the dire state of affairs in the hardest hit eurozone countries, and increase the political pressure on EU and national elites for debt forgiveness, full employment and reduction of cutbacks. It may also be applied in near-bankrupt U.S. States." (http://www.paecon.net/PAEReview/issue59/Andresen59.pdf)