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Pod Cast Listings

Why is Timebanking a good idea? by Richard Raygor

Transcript here.

Richard Raygor works as a systems consultant. In a previous discussion Bill Cochran and Richard discussed "Time-Banking". This is a process that allows people to be involved in an economy which is not driven by money but by the exchange of hours of labor.

Richard expanded on the idea, " You do an hour of work for me at something you are good at and I will provide an hour of work for you at something I am good at."

The question for this discussion is "why". Why would people see this a viable economic option.    

Richard explained, "There are basically two economies out there. One is the 'market economy' – driven by money and the other is the 'core economy' which consists of home, family, neighborhood and community.

The word economy comes to us from the Greek word Oikonomia which means household management. Management of a home used to be rather simple where there was a faith in God who more or less laid down the rules of loving and obeying Him and loving your family and neighbors. Caring for and looking after the needs of others, even when it meant making sacrifices, was what parents tried to instill in their children.

In spite of what some people may say, these Christian virtues are what made this country great because love bonded families and communities together. Almost everyone had some type of skill and served a needed purpose. Some farmed and some hunted to provide provision. Others made things that where needed for the home. Parents taught children how to do useful things and there was peace, happiness and blessings for all concerned. This is what a core economy is all about."

One of the realities of starting any business is the need for start-up capital. Since there is a shortage of capital in the market at this point, "time banking" allows a person to start working without capital. With time-banking, however, we can put to work those who have become un-employed and by paying them in time-dollars they will not only be meeting the needs of the community, they will be able to "cash them in" by accessing services they need to meet their own needs.

In our next segment Richard and Bill will be discussing ‘how’ you would get something like this off the ground?