Odd Lots: What the Berkshires Learned by Launching its Own Currency

A new spin on 'buy local.'

BerkShares local currency.

Source: Courtesy of BerkShares Inc.

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Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance and economics.

"Buy local" is a mantra that has appeal across the political spectrum. Small communities have preached this gospel for a long time. The current U.S. president advocates a version on a national scale. So how do you put it into practice?

One experiment has been taking place in the Berkshires -- a region in the U.S. state of Massachusetts -- that has its own currency called Berkshares. On this week's Odd Lots podcast, we speak with Alice Maggio, the executive director of the currency, about how a regional currency works, what it accomplishes, and what they’ve learned from it.

 

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