This article explores the potential role of time banks in re-building and
sustaining local economies based on two key issues: that time credits need to
show that they can help people dependent on limited financial resources; and
that they can interact with local businesses. The potential of time credits to
interact with local economies has been questioned as alternative community
currencies show greater compatibility with business. However, this paper argues
that the potential of time credits is substantial. Drawing on recent research
with a time bank in the Welsh valleys, this paper explores these two issues, to
consider the potential of time banks for local economies, beyond their social
intervention status.
Get full access to this article
View all access options for this article.
References
1.
BrewerM.GoodmanA.MurielA.SibietaL.
(2007) Poverty and Inequality in the UK 2007
(London: Institute for Fiscal
Studies).
2.
BowringF.
(1998) LETS: an eco-socialist
alternative?New Left Review, November–December, pp.
91–111.
3.
Boyle, D. (n.d.) The Co-Production Principle and
Time Dollars. Retrieved on 1 October 2007 from:
http://www.timebanks.org/documents/Co-ProductionPrinciple.pdf
4.
BoyleD.
(2003) The new mutualism and the meaning of time
banks, Local Economy,
18(3), pp.
253–257.
5.
CahnE.
(2000) No More Throw Away People: The Co-Production
Imperative (Washington, DC:
Essential Books).
6.
CallisonS.
(2003) ‘All you need is love’?
Assessing time banks as a tool for sustainable economic
development, Local Economy,
18(3), pp.
264–267.
7.
CroallJ.
(1997) LETS Act Locally: The Growth of Local Exchange
Trading Systems (London:
Calouste Gulbenkian Foundation).
Financial Services Authority
(2006) Levels of Financial Capability in the UK:
Results of a Base-line Survey
(London:
FSA).
11.
HopeM.AlexanderR.
(2008) Squashing out the jelly: reflections on
trying to become a sustainable community, Local
Economy, 23(3), pp.
113–120.
12.
GregoryL.
(2008) Time for Change: Exploring the Rationale and
Organisation of Time Banks in the Welsh Valleys.
Unpublished Masters Dissertation, Cardiff
University.
13.
JamesS.
(2005) The Impact of Co-Production on People Outside of
Paid Work (Rhondda:
Wales Institute for Community
Currency).
14.
LangP.
(1994) Lets Work: Rebuilding The Local Economy
(Bristol: Grover
Books).
15.
MoradM.
(2008) Sustainable communities: a conceited
metaphor or an achievable aim?Local Economy, 23(3), pp.
111–112.
16.
New
Economics Foundation (2004a)
Co-production Works! The Win:Win of Involving Local People in Public
Services (London:
NEF).
17.
New
Economics Foundation (2004b)
Exploring Co-production: An Overview of Past, Present and
Future (London:
NEF).
18.
New
Economics Foundation (2007)
Unintended Consequences: How the Efficiency Agenda Erodes Local
Public Services and a New Public Benefit Model to Restore Them
(London:
NEF).
NewmanI.
(2008) Introduction: the future of local
economic development, Local Economy,
23(2), pp.
110–121.
21.
NorthP.
(2003) Time banks — learning the lessons
from LETS, Local Economy,
18(3), pp.
267–270.
22.
SeyfangG.
(2001a) Community currencies: small change for a
green economy, Environment and Planning A,
33, pp.
975–996.
23.
SeyfangG.
(2001b) Spending time, building communities:
evaluating time banks and mutual volunteering as a tool for tackling social
exclusion, Voluntary Action,
4(1), pp.
29–48.
24.
SeyfangG.
(2003) ‘With a little help from my
friends.’ Evaluating time bank as a tool for community
self-help, Local Economy,
18(3), pp.
257–264.
25.
SeyfangG.
(2004a) Working outside the box: community
currencies, time banks and social inclusion, Journal
of Social Policy, 33(1), pp.
49–71.
26.
SeyfangG.
(2004b) Time banks: rewarding community
self-help in the inner city, Community Development
Journal, 39(1), pp.
62–71.
27.
SeyfangG.
(2006a) Harnessing the potential of the social
economy? Time banks and UK public policy,
International Journal of Sociology and Social Policy,
26(9/10), pp.
430–443.
28.
SeyfangG.
(2006b) Sustainable consumption, the new
economics of community currencies: developing new institutions for
environmental governance, Regional Studies,
40(7), pp.
781–791.
29.
SeyfangG.SmithK.
(2002) Using Time Banking for Neighbourhood Renewal and
Community Capacity Building (London:
New Economics Foundation).
