PeaceGate Time Banking
Time Banking is an old idea, with roots in the 19th century labour reform movement. Modern time banking was conceptualized in the 1980s by Edgar Cahn, an American law professor and social justice advocate, to address unfulfilled societal needs, and reward community participation. Time banking is a system of bartering various services for one another using labour-time as a unit of account which was developed by various socialist thinkers based on the labour theory of value. Labour-time units can be credited to a person’s account in the time bank and redeemed for services from other members of the Time Bank.