Establishing Time Based Community Currencies: Means of Measure, Exchange and Storage

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Please cite the paper as:
&lquo;Stephan Hawranick Serra, (2012), Establishing Time Based Community Currencies: Means of Measure, Exchange and Storage, World Economics Association (WEA) Conferences, No. 3 2012, Rethinking Financial Markets, 1st November to 31st December, 2012&rquo;

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Abstract

In the search for operative, sustainable and complementary currencies and the methods of applying them in the real world, this article proposes a perspective from an architect’s point of view when applying the use of time based currencies to the urban
habitat and environment, and to the provision of basic needs within its communities especially for those unable to afford them due to the reduced provisions by governing bodies, and the higher costs to these and/or to those willing to acquire them independently from the privatized substitutes.

The challenge becomes how to make the provision of these basic human, social and urban needs equitably accessible and co-operatively plentiful for the communities as well as worthwhile and competitive for investors. Too often the existing or proposed solutions are relegated to the world of charities and NGO associations and do not become interesting to the powers-that-be except out of a sense of personal, or corporate, moral obligation or social commitment.

Thus, for a time currency to serve as “money” in the purchase of these basics, three simultaneous and non-contradictory roles are demanded of it: “it must function as a means to a) measure costs, b) foment exchanges and c) record transactions (a).”

This article tackles these issues and invites debate on the positions taken.


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