Nicholas Natrella a
a Post Growth Institute
A small Basque town within the province of Gipuzkoa is experimenting with a convertible local currency and seeking to set up a wider solidarity economy project. This article explores residents’ interpretations of the currency and its potential for revitalisation of the local community and economic life. The history of the Basque separatist movement, and its ties to Euskara revival efforts, have shaped the political identity of the town; in turn, creating a hospitable environment for such an initiative to thrive. Spearheaded by a leftist, pro-independence local government, this project of radical democracy and local economic sovereignty represents an interesting case for the possibilities of localised, postcapitalist futures. Employing theories of social capital and a framework of symbolic consumption, this study posits that community members identify an intrinsic connection between a thriving local economy and a good quality of life. Therefore, the use of the convertible local currency has become synonymous with acts of community revitalisation; therefore, building upon social capital and further enmeshing intimate and economic relations. Moreover, this study identifies numerous factors which contribute to the goals of the initiative, such as a strong degree of idealism among residents, an intergenerational nature of the community, high levels of community trust, and socially motivated businesses.
Nicholas Natrella a
a Post Growth Institute
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