Time + Paper = Money ?
I always admire those who solve problems in the most seemingly implausible ways. Such as this: Ithaca, New York has designed local-use only cash called ‘Ithaca Hours'. With the current economic crisis, loss of jobs and little money for local economies, why not bypass The Federal Reserve and keep everything local?
"Ithaca Hours is a local currency system that promotes local economic strength and community self-reliance in ways which will support economic and social justice, ecology, community participation and human aspirations in and around Ithaca, New York. Ithaca Hours help to keep money local, building the Ithaca economy. It also builds community pride and connections. Over 900 participants publicly accept Ithaca HOURS for goods and services. Additionally some local employers and employees have agreed to pay or receive partial wages in Ithaca Hours, further continuing our goal of keeping money local. When you spend an HOUR you know it is going to stay in our community, keep circulating, supporting our economy and maybe even end up right back in your pocket."
Would you accept or use this type of currency if your local economy started issuing "Hour" money?
Full Link Here: Core77
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