BRISTOL LETS (Local Exchange Trading Scheme)
Ethos of LETS and Transition Movement
Transition Movement & LETS
Developing a local economy not driven by the demands of distant corporations and banks could be a seriously important part of the transition to a low carbon economy. (see: Interview with Peter North (author of 'Local Money')).More reasons to join LETS
The system is based on human capital - your skills and energies - and on trust. Unlike the cash economy your capital is not restricted to the numbers on your bank statement. So long as you have something to offer another person (and everyone does), you have capital. Since participants don't need to compete for scarce resources, it is a fundamentally cooperative trading endeavor.
The currency is information rather than a commodity in its own right. No interest is charged or credited, and there is no stigma about going into debit, as debit only represents a future commitment to offer skills to another member, rather than a financial penalty imposed by a third party.
There is no stigma in debt. If half of us weren't in debt the systems wouldn't work ar all!
Whenever you have a job done you are offering a member "work", so the "Wants" in any LETS are as important as the Offers.
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