By Martin Simon

The function of Time Money is to create a vibrant and positive economy that rewards co-operation and caring as automatically as conventional money rewards competition and greed.

Time Money is an agreement within a community to use time as a medium of exchange.

One hour of time spent helping out someone else earns one unit of Time Money.

One unit of Time Money buys one hour of service from someone else.

The more units earned and spent, the wealthier the community becomes.

The more people inter-connect the more human they become.

In years past, people were aware of the value to their community of an informal and ongoing exchange of favours. Nowadays, we live our lives like passing strangers and acts of human kindness are more arbitrarily exchanged. When displayed they still enhance our quality of life - it is just that the pressures of the modern world threaten the abundance of the supply.

The Time Money technology details the care and support asked for and given by members of a community. It drives an information system that enhances the human capital and keeps a local record of the circulation of acts of giving and of receiving. (One way acts of giving often leave the recipient believing that she/he has nothing that others need or value).

People are put in contact with the right person, with the right skills at the right time.

People no longer feel anonymous and isolated.

People are less indifferent to the welfare of those around them, they have a vested interest.

Because the medium of exchange is 'time' everyone can be a shareholder.

Cash payments for services are no longer the prime indicators of value.

The networks of mutual support that evolve are seldom discarded lightly.

As trust grows, the reciprocation of caring acts becomes the norm.

Time money makes it possible for everyone to contribute value to the local economy.

~
Martin Simon
1st July 1999

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

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