Integral research on the Lake District Pound: six mixed methods for assessing the impact of a currency

Place, Christophe, Bendell, Jem ORCID logo ORCID: , Chapman, Ian ORCID logo ORCID: , Mcphie, Jamie ORCID logo ORCID: and Murphy, David F. ORCID logo ORCID: (2021) Integral research on the Lake District Pound: six mixed methods for assessing the impact of a currency. International Journal of Community Currency Research, 25 (1). pp. 34-51.

[thumbnail of Place_34_51-ijccr-2021_1-place.pdf]
PDF - Published Version
Available under License CC BY-NC

Download (510kB) | Preview
Official URL:


How does one assess the impact of a currency innovation? This study explores the experience of the Lake District Pound (LD£), a free local currency issued by a social enterprise from May 2018 to January 2020, for approximately LD£215’000 within 342 local independent businesses and 28 bureaux de change – who were also stamping passports – and based in the Lake District National Park, a UNESCO World Heritage Site in Northwest England. After presenting the historical and regional context, we will introduce six mixed methods – consistent with integrative research approach of Integral Methodological Pluralism based on Complex Integral Realism – and analyse the respective and combined results of 12 data collections over 25 months to provide a holistic impact assessment. By promoting the local heritage and by providing a unique visitor experience, it has had some impact on local spending and the local economy and has raised some awareness of localism and Money; without transforming behaviour and the local supply chain. It has proven its ground-breaking revenue model based on the annual leakage once the currency expires: keeping rather than spending it – targeting visitors rather than residents. Its short-term financial plan proved unsuccessful in generating profit for two charities (environmental conservation, community support).

Item Type: Article
Journal / Publication Title: International Journal of Community Currency Research
Publisher: IJCCR
ISSN: 1325-­‐9547
Departments: Institute of Business, Industry and Leadership > Institute for Leadership and Sustainability (IFLAS)
Depositing User: Christian Stretton
Date Deposited: 20 Apr 2021 10:04
Last Modified: 13 Jan 2024 12:01


Downloads per month over past year

Downloads each year

Edit Item