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The Economics of Great Depression Scrip Economics / Economic Depression Jun 30, 2010 - 11:25 AM By: Clifford F Thies According to Paul Krugman, a contributing cause to a depression is hoarding and, concerning this, I have no real quarrel.[1] It is concerning the ability of the market to address the problem of hoarding, versus the need for government intervention because of hoarding, on which I disagree. Back in 1999, when Krugman wrote The Return of Depression Economics, it was received strangely. It was a thin book, written in large type, short on economics and long on storytelling. Supposedly, it...

Communities across America are bypassing the dollar and creating their own currencies in an attempt to help both consumers and businesses struggling in the recession. The idea, borrowed from the Depression era when the currencies were known as "scrip", is designed to boost local spending and keep money circulating within the community.

You've probably heard critics claiming Uncle Sam is printing money like it's going out of style. Now, as CBS 2's Derrick Blakley reports, some towns are getting into the act since their communities were granted a license to print money.

You've probably heard critics claiming Uncle Sam is printing money like it's going out of style. Now, as CBS 2's Derrick Blakley reports, some towns are getting into the act since their communities were granted a license to print money. At a time when money's tighter than ever in Ithaca, New York, they're now printing they're own. They call their funny money "Ithaca Hours." In Pittsboro, North Carolina, it's much the same. Local businesses are distributing their own bizzaro dinero called, "The Plenty." "Bring nine dollars to the bank and you get 10 Plenty's. You're increasing your local purchasing power...