This article, published in the The Telegraph, is interesting not for what it says about local currencies but instead the wider, unstated, political atmospherics of our time.
Putting to the side the claim that Bristol is a hot bed of left-wing radicalism, as opposed to an historic hub of global trade, it strikes me that when people are against big business, big banks, the Bank of England, or for that matter a nationalised pound, they in fact smell the unjust corporatism of crony capitalism. Unable to articulate this with a coherent body of knowledge and an understanding of ‘state failure’, they instead turn to the ever decreasing circles of protectionist localism.
While such conclusions are wrong, they are at least borne of people starting to try and articulate the right question. The key thing for them to learn is that they should try substituting the word ‘big’ with the word ‘state’!