Time-based currency | Wikipedia audio article
Channel: wikipedia tts
Date: 14/12/2018

This is an audio version of the Wikipedia Article:
Time-based currency


00:00:59 1 History
00:01:07 1.1 19th century
00:02:55 1.2 20th century
00:04:34 1.3 21st century
00:07:49 2 Time dollars
00:08:45 2.1 Timebanks
00:09:44 2.2 Timebanking
00:11:29 3 Timebanking and the timebank
00:13:02 3.1 time credit
00:13:59 4 Criticisms
00:15:18 5 Timebanking around the world
00:15:28 5.1 Global timebanking
00:16:16 6 Studies and examples
00:16:26 6.1 Elderplan
00:17:09 6.2 Gorbals timebank study
00:18:25 7 See also



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SUMMARY
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In economics, a time-based currency is an alternative currency or exchange system where the unit of account/value is the person-hour or some other time unit.
Some time-based currencies value everyone's contributions equally: one hour equals one service credit. In these systems, one person volunteers to work for an hour for another person; thus, they are credited with one hour, which they can redeem for an hour of service from another volunteer. Others use time units that might be fractions of an hour (e.g. minutes, ten minutes – 6 units/hour, or 15 minutes – 4 units/hour). While most time-based exchange systems are service exchanges in that most exchange involves the provision of services that can be measured in a time unit, it is also possible to exchange goods by 'pricing' them in terms of the average national hourly wage rate (e.g. if the average hourly rate is $20/hour, then a commodity valued at $20 in the national currency would be equivalent to 1 hour).