Issuing of local scrip had some success in Wörgl, Austria during the Depression era (being praised by Irving Fisher, who advocated such a "stamped money" scheme

Issuing of local scrip had some success in Wörgl, Austria during the Depression era (being praised by Irving Fisher, who advocated such a "stamped money" scheme), though the experiment was cut short quickly. Granted, issuing currency is not a magical bullet for misallocations in real capital. Though it just might speed up the process of finding new complementary uses of it. Political constraints like being vetoed by a higher authority still exist.