Time-based currency

| Timebanking UK Co-production James Quilligan: "Co-Production - the outcome of synergistic cooperation; productivity, creative output and social capital created through a group working under a transparent process of co-governance." Co-production = "the means by which the beneficiaries of charity, philanthropy services or public services are instrumental in the design , planning and delivery of specific services or broader social outcomes as a way of improving the service or activity and rebuilding the local community" See also the policy report with the same title, by the New Economics Foundation below. From: 'Participation' by beneficiaries of a service or a public good is not a new idea, and the forms it can take and value it adds has been debated across the world. The idea has been developed through the work of the American Civil Rights Lawyer Dr Edgar Cahn, who regards co-production as the central principle in successful professional practice. "The term isn't new.

Hour Exchange Portland - Maine community service time bank Fourth Corner Exchange Inc Time banking Time banking is a pattern of reciprocal service exchange that uses units of time as currency. It is an example of a complementary monetary system. A time bank, also known as a service exchange, is a community that practices time banking. The unit of currency, always valued at an hour's worth of any person's labor, used by these groups has various names, but is generally known as a time dollar in the USA and a time credit in the UK. Time banking is primarily used to provide incentives and rewards for work such as mentoring children, caring for the elderly, being neighborly—work usually done on a volunteer basis—which a pure market system devalues. Origins and philosophy[edit] According to Edgar S. As a philosophy, time banking also known as Time Trade[11] is founded upon five principles, known as Time Banking's Core Values:[12] Everyone is an assetSome work is beyond a monetary priceReciprocity in helpingSocial networks are necessaryA respect for all human beings The time dollar[edit] Dr.

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