In Ithaca We Trust : Time vs Money
As the US sits in virtual Chapter 11 bankruptcy, people everywhere are turning to alternative ways to make ends meet. In Ithaca, NY, the local community has adopted ‘Ithaca Hours’ (http://www.ithacahours.org) as a ‘local currency system that promotes local economic strength and community self-reliance.’ As the Hours Board of Directors explain, ‘Ithaca Hours help to keep money local, building the Ithaca economy. It also builds community pride and connections.’ Several local businesses now ‘accept Ithaca HOURS for goods and services,’ as well as ‘several local employers and employees’ too, ‘who have agreed to pay or receive partial wages in Ithaca Hours’ even.
The ‘currency’ is based on the idea that YOUR ‘time’ actually has a monetary value, so you can ‘trade’ time instead of actual ‘capital.’ But ‘unlike (conventional) US Dollars, when you spend an HOUR you know it is going to stay in your community, keep circulating, supporting your economy and maybe even end up right back in your pocket. And also unlike (standard) US Dollars this is your system.’
Finally, the revolution is getting organized!
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