Liz has joined up with Ben Cook at Spice who runs the Time Credits scheme in Cardiff to offer volunteers a chance to enter 'the time economy'. For those who have not heard of this wonderful and subversive idea, it takes the phrase 'time is money' almost literally, in that it converts volunteered time into currency that can be spent.
Time Credits emerged from a mid-1980's concept called Time Banking. This is a time-based currency system theorised and popularised by Edgar Cahn, American human rights lawyer, View the Professor Cahn - Jon Snow interview; explaining concept and practice, 6 minutes
Time Banking is sweeping across the UK. It offers a simple way out of the constraints of the capitalist system, by valuing and using people's skills to help other people and contribute to local community, friends and neighbours. There are now 290 across the country, with the nearest to Cardiff at the moment being Blaengarw-Time-Centre, Bridgend , Merthyr Tydfil and swanseabid.co.uk
In 2003, an institute was established within the University of Wales, Newport to explore the use of community currencies to support social regeneration in the South Wales Valleys.
The Wales Institute for Community Currencies (WICC) began to develop time-based currencies that could be used as a tool within the community sector.
When the WICC project finished at the end of 2008, Spice was established to further develop the Time Credits concept.(from the Justaddspice website)
Right now there are 6 areas in the UK operating Time Credits:
- South East Wales
- South West Wales
- London and South East England
- Lancashire
- East of England
- South West Wales
NoFit State is closely connected with one of the first areas of Cardiff to offer Time Credits, Splott, Tremorfa, Adamstown and Roath, or STAR, Communities First. There are more areas soon joining in.
The brilliant thing about Time Credits is that they can be exchanged for things people actually want, thanks to the participating businesses, from going to see the Bluebirds in actions, to a relaxing massage to a show, including Bianco. Awesome!
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