Why let the availability of money determine the range of the possible? Time banks are taking off, in ways you never expected.
“Time banking refuses to grant money a monopoly on the definition of value, instead creating a new kind of money originally called “service credits”. That idea became known as Time Dollars, and later, as it spread beyond the United States, TimeBanks. The concept is simple: one hour of help of any kind given to another member earns one time credit, exchangeable for an hour of help in return. One equals one. That’s the math. The IRS has consistently ruled that time banks are not commercial barter organizations, so time credits earned are not treated as taxable income.”
“There’s also momentum building around an emerging use of time banking that’s less familiar. As governments cut services and programs for the most vulnerable Americans, time banking is moving beyond individuals: institutions are attempting to fill the gaps by enlisting their communities as partners in their work. Four examples reveal the breadth and magnitude of what TimeBank initiatives can do:”
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