Money makes it possible for strangers to carry out transactions without the need to enter into any form of relationship. Money sets us into competition with those around us and we seem to be fixated on entry to the job market as the panacea for eradicating poverty.

Money is a human artefact and we can free ourselves from the tyranny of the 'global market' by designing local economic systems that make it possible for people to meet their own needs, rebuild community and revitalise democracy.

Alternative currencies are now thriving throughout the country and LETS, (Local Exchange Trading Systems), have been pioneers in this field.

There are LETS schemes that provide highly prized and technical services that are paid for partly in Lets and partly in cash. There are also LETS schemes that use time as the measure of exchange, without any reference to the traditional market value of the skills on offer.

Fair Shares offer a structure for simple exchanges of favours between neighbours based only on a moral norm of reciprocity. The only thing being exchanged is time. There is no pricing system with Fair Shares,

one hour equals one credit.

Fair Shares are based on Time Dollars, which are exempt from tax in the USA. This ruling took into account that time is used as the unit of measurement rather than the market value, that they are not backed by a legally enforceable claim, the charitable nature of the schemes and that the main object is to motivate participants.

Both LETS and Fair Shares seek to increase social capital and build a sense of community. For most LETS schemes local trading and revitalising the local economy are seen as central. With Fair Shares the focus is on recapturing a time when neighbours helped neighbours.

Fair Shares will work alongside Social Services, Health and voluntary groups and encourage them to move away from unilateral transactions, which may inadvertently build dependency, to a way of working that generates reciprocity.

~

Martin Simon
7th March 1999

E-mail : venture.radical@uku.co.uk

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