About 30 U.S. localities circulate their own currency with names like Ithaca Hours and Dillo Hours. Doing
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About 30 U.S. localities circulate their own currency with names like “Ithaca Hours” and “Dillo Hours.” Doing so is perfectly legal (although by law they are subject to a 10 percent federal tax, which currently the government is not collecting). These currencies are used as payment for rent, wages, goods, and so on. Are these currencies money? Explain.
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To be considered money the currencies would have to fulfill the fu...View the full answer
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