14 Mar '12, 3pm

Brixton £ and Timebanking compared. Interesting read.

Brixton £ and Timebanking compared. Interesting read.

Well, there is a similarity between the two. When the first person ‘spends’ a time bank hour, it enables someone else to ‘earn’ a time bank hour. They can then spend this, and some else can earn it, and so on… In the same way, each B£ starts a chain of circulation. Any person that buys B£s commits to spending them locally. Likewise any business owner that signs up is also pledging to try and support other businesses by respending them. Signing up to this is a choice they make above putting that money straight in the bank to earn interest.

Full article: http://www.neweconomics.org/blog/2012/03/14/can-changing-...

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