Towards an Economy in the Hands of the People: The Tianguis Tlaloc Local Currency System in Mexico

Abstract

The Tianguis Tlaloc local currency system, first initiated in 1994 and re-initiated in 1996 is the one of the longest-running community currency systems in the global south. The system is a hybrid LETS-HOURS design, which is to say a system of “cheque-notes” withdrawn from accounts. At the time of writing it was the only known system of its type in the world. However, no analysis of the operation of the Tianguis Tlaloc system had been conducted, and no systematic effort to gather participant’s opinions of the Tianguis Tlaloc program had been conducted after several years of operation. Thus, a research project was proposed to analyze the operation of the system, and meet with the participants in face-to-face interviews. Both the analysis of the function of the system, and the interviews with participants provided useful information for taking the Tianguis Tlaloc from the experimentation stage to confident operation. The distinction between the Tlaloc, and the LETS/HOURS systems in the global north are also made very clear. The success of the goals of fostering mutual aid, independent self-development, pride in culture and the creation of a new socio-political space at the site of the marketplace were enhanced by the research which suggested changes to the Tlaloc system function and scope.