In an article for the Participatory Economy Project website, Antti Jauhiainen critically evaluates the merits and issues with local currencies and argues that a participatory economy is an alternative way to transform the economy.
A summary of the article can be found below:
Why Alternatives Matter
The culture of capitalism runs deep in 21st century thought. Hierarchy, inequality, and competition are widely treated as unavoidable facts of life in any working economy. Even those harmed by these arrangements often accept them as necessary. Yet people constantly act against this supposed logic. Anthropological evidence overwhelmingly suggests cooperation and empathy have propelled human societies forward far more than competition and greed ever have. Cruelty and selfishness are certainly part of the human repertoire, but so are solidarity and mutual support. An economy rewarding the latter over the former could unlock levels of freedom and ingenuity capitalism simply cannot.Local currency experiments are one visible expression of this cooperative capacity. They deserve serious attention both for what they achieve and for what they cannot achieve on their own.
You can read the article here.