Can the Brixton Pound be considered good money?

The London Borough of Brixton has decided upon an unusual way of beating the recession by creating their own currency called the Brixton Pound. £40,000 worth has been printed which can be spent in over 70 shops within the borough. Do your students think this will help the local economy or do they just see it as a fashionable gimmick? This BBC article covers many economic concepts and would be a brilliant starter for a Friday afternoon lesson. Click read more for a question about good money to go with the article.

1. Read the article and decide whether the Brixton Pound can be considered ‘good money.’ To be called good money it should fulfil the following criteria.

o It should be ACCEPTABLE
o It should be DURABLE and hard-wearing
o It should be PORTABLE and easy to carry
o It should be DIVISIBLE i.e. you can give change
o It must be SCARCE