The Lewes Pound

Sigh.

The Lewes pound became the largest currency launched in Britain for more than a century this week as cheese shop customers, German numismatists and a ten-year-old boy buying a chocolate bar were among those who snapped up all 8,500 available notes in less than 24 hours.

Money is a medium of exchange.

What\’s the point of having a medium of exchange that can\’t be exchanged beyond a small area?

Anyone remember the company store and truck money?

4 thoughts on “The Lewes Pound”

  1. “What’s the point of having a medium of exchange that can’t be exchanged beyond a small area?”
    Good question. But be careful how you use it – it’s an argument for us joining the euro!

    Tim adds: Indeed…or the dollar, rouble, renmimbi or kwacha. Which brings us to the concept of optimal currency areas…..

  2. I saw an interesting article the other day that said that the company store and truck money were a response to a lack of small change. “What’s the point of having a medium of exchange that can’t be got hold of?”

  3. Why can’t locally generated energy be bought with normal money? If it can’t, then the energy itself will have less value as there will be fewer buyers. If it can, why does the Lewes pound have added value?

Leave a Reply

Your email address will not be published. Required fields are marked *