Time-based currency
In economics, a time-based currency is an alternative currency where the unit of exchange is the person-hour. Some time-based currencies value everyone’s contributions equally: one hour equals one service credit. In these systems, one person volunteers to work for an hour for another person; thus, they are credited with one hour, which they can redeem for an hour of service from another volunteer. Critics charge that this would lead to fewer doctors or dentists. Early time-based currency exchanges[edit] Edgar S. Time Dollars[edit] Time Banks[edit] Time banking[edit] Time banking is a pattern of reciprocal service exchange that uses units of time as currency. Origins and philosophy[edit] According to Edgar S. As a philosophy, time banking also known as Time Trade[33] is founded upon five principles, known as Time Banking's Core Values:[34] Everyone is an assetSome work is beyond a monetary priceReciprocity in helpingSocial networks are necessaryA respect for all human beings Criticisms[edit]
The Best Last-Minute Gift: Your Time | Living on GOOD
At a time when Americans in particular are questioning what has gone wrong in our society, what has happened to our communities, where our humanity has gone, the notion of timebanking feels comforting and old-timey. It has taken many forms since its inception more than 25 years ago, but the gist of it is this: You deposit a certain number of hours doing whatever it is you can offer to do (childcare, design, home repairs, gardening, tutoring, you name it), and in exchange you get to benefit from hours of someone else's time. Granted, in our grandparents' day, these sorts of exchanges may not have needed a bank. When my grandma left meals out on her front steps for hobos during the Depression she wasn't expecting them to pay her back by doing chores, nor was there a third-party broker negotiating pies for lawn mowing. Getting into time banking doesn't have to be anything so official, though.
| Timebanking UK
How Boomers Can Take Advantage of Time Banking
The saying “time is money” just got a whole new meaning. Time banking allows patrons to trade their skills for services they need, and the relatively-new concept is becoming increasingly popular among retirees. Here’s how it works: For each hour of service banked, members earn an hour’s worth of alternative currency known as “time dollars”, which can be traded for services from other patrons. According to AARP, nearly 270 time exchanges exist nationwide with memberships ranging from a few dozen to several thousand patrons. Stephanie Schapiro, a contributor to AARP’s magazine , answered the following questions about this new trend and how boomers can use it to their advantage. Boomer: What do boomers need to know about time banking and how it works? Schapiro: Time bank is like a real bank where you deposit money, however here you are depositing your time. Time dollars earn no interest, and have no equivalent monetary value. Schapiro: Definitely driving. .
Hour Exchange Portland - Maine community service time bank
Our Time Bank | Building Community in Our Corner of Los Angeles
TimeBank Media | weaving a way to work together
An Introduction to Time-Banking
In this guest post, Loretta B. describes a unique way to build social capital and to save money. Two weeks ago my boyfriend and I enjoyed a rare night out on the town. We dressed up in our best clothes, had dinner at a special restaurant, and headed off to the symphony. Make no mistake, I am very frugal. Some refer to it an alternative currency system, a form of volunteerism, a way to build communities, and an international movement for social change. Where did those symphony tickets come from? What is time-banking? My local timebank is called Community Exchange (CE.) How is this different from bartering? Everyone has a skill — some might surprise you. I have provided house painting, taught basic computer skills, and helped people job search and post resumes online. I house-sat for a woman who was a certified yoga instructor, and then I spent my first hour — on yoga. Weaving community There’s a serious side to time-banking, too. There are doctors that participate in our timebank.
Has the Time Come for Time Banks?
Joe Petrucci | Thursday, August 05, 2010 Laundry and pet-sitting were not in the job description when Laura Gutierrez joined the Lehigh Valley Health Network as head of its innovative Community Exchange program three years ago. Gutierrez, though, has selflessly performed those tasks whenever the need arose. While it might be difficult to grasp why the non-profit veteran's time would be well-spent on such everyday tasks, it is easy to see the impact. It's less about Gutierrez offering a selfless helping hand to someone in need and more about emphasizing and organizing the value and power of people's time. The Community Exchange is one of several thriving operations throughout Pennsylvania employing a concept known as time banking, in which members from a common geography request and respond to a variety of different services. Community Exchange is considered one of the models of success. The idea of time banking sprouted in the U.S. about 30 years ago when Dr. Photos:
