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Time Banking

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]

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.

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