Time Banking


#1

Just read this article on Time Banking - something I hadn’t specifically heard of previously as an available service.

From the article I also found TimeRepublik - a marketplace for earning and spending time.

I think these are great concepts. Anyone had any experience in this stuff?


#2

I’be long considered the price of things based on the amount of effort it’d take on my part to earn it.

I think they’be drilled down deep into economics but failed to complete the picture. It might work to a limited extent but it certainly won’t be massive.

Not the first time it’s been tried before, either


#3

1 hour dog walking != 1 hour transmission repair.

If their concept doesn’t take into account the limited availability of certain skill-sets and the value derived from that, then it’s doomed to fail.

Supply and demand is not a capitalist concept, it’s a market observation.


#4

It’s nice to spend time in a place where these things are understood.

Sod real people, I get bored of explaining stuff :laughing:


#5

Totally agree, dog walking typically requires going outside, which is horrible. I’d trade 1 hour of forum trolling for 1 hour of transmission repair.


#6

It is an interesting concept if you remove what we value time as in $.

But yes as our societies are based on money and renumeration in $$ I don’t think this would work for a lot of tasks and/or long term.

It kind of reminds me of that movie “In Time”.


#7

The problem here is that the currency isn’t actually time, it’s adjective time or time doing ______. That means the skill is different, which means supply and demand come into play.


#8

The value placed on effort expended isn’t just based upon simple supply and demand though, time taken to acquire skills and knowledge as well as experience are also taken in to account when deciding a market value of someones time.

I was told by a good friend about a time bank that operated locally to me back when I was nowt but a wee nipper. As far as I understand it fizzled out eventually because people realised that their time had different value according to their perceived notions of fairness. That was amongst a community which was fairly close knit within a much larger citywide community too. Gods knows how long it’d take to fracture in the much looser communities we appear to live in in the internet age.


#9

I think Ayn Rand would be OK with this idea


#10

#11

This concept is as old as time, its originally known as BARTER, IE, I will fix your barn door in exchange for some wheat.


#12

That’s what I thought as well when reading about it.


#13

Sort of, but barter still had exchange rates. The idea of trading 1 hour of time for 1 hour of time wasn’t terribly common at any point in history I’m familiar with.


#14

I am referring to the concept not the implementation. I could see a barter exchange working, but not one that lets you trade time, as you said, a fixed barn door might be worth 1 pound of wheat or several gallons of milk. We use currency as a medium that accounts for the differing values of services. I could see a site that lets people offer say webdesign for doing someones accounting or knitting someone a sweater working, maybe.


#15

This is why we started using salt as a currency in the before time :smile:
Currency whether its salt, gold, silver or pieces paper smooths out the variations in “value” that people put on their time and represents it in a way that most people can grasp.