Word: localized
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Paper-money currencies, like BerkShares or the Lewes or Totnes Pound, slip fairly seamlessly into the national economy; their use is taxed like ordinary money. More abstract exchanges are a bit more complicated to deal with. But the tax concern is not insurmountable. "If you use local currency for your main income-generating activity, you must pay income tax," says Hensch, who consults in complementary currencies. Likewise, if you have a business, you'll pay sales tax on any local currency - in New Zealand, that would be Green Dollars, part of LETS - you bring in. But if you trade...
Andrew Rose, Bernard T. Rocca Professor of International Trade at the Haas School of Business at the University of California, Berkeley, sees local currencies as limited by their unwieldiness. "Money is primarily just a convenience for enabling exchanges between two parties. The more widely accepted, the more convenient it is," he says. If you need to use different currencies in different locations, the money then becomes less convenient...
...this vast countryside will be impossible with just 58,000 American soldiers. Our NATO allies are showing no stomach for this fight, and the Afghans themselves are poorly equipped to help. In contrast to the current situation in Iraq, America has not been able to train up a significant local army and police force to support security operations. Also in contrast to Iraq, the insurgency in Afghanistan has a sanctuary available across the border in Pakistan. “Afghanistan is not Iraq,” says one former Afghan interior minister: “It is the theme park...
...hostel spaces have been overrun. The city of Ubeda has turned its municipal gym into an emergency shelter, while Cáritas oversees the Santa Clara facility. "It's crowded, there are no beds, a cold-water shower, and only one toilet," says Juan Carlos Escobedo, the local head of Cáritas. "But without it, we'd have 200 people sleeping on the street in three-degree weather...
...turned out to be a success in many ways, planning the event was no easy matter. "While organizing the parade, we encountered many obstacles from the government, the police and a bus company," said Wai-Wai Yeo, a member of the Hong Kong Pride 2008 Organizing Committee. The local company Citybus refused to rent a double-decker to organizers of the city's parade because of concerns about its image. "This was a blatant act of discrimination, especially seeing the fact that this is a legal parade and the Hong Kong police have granted a permit," says Betty Grisoni...