The Eco-Just Food Network time bank is a local food-centered economic system using time as money. People spend their time assisting farmers and food providers in the process of food production and in return earn time dollars. They can spend their time dollars on the food offered in turn by farmers and food providers.
We all have more time than money, yet often we find ourselves feeling like we are wasting our time trying to earn enough money. At the same time, we have a thin layer of individuals in society who have make more money in one minute than most of us make in a year. They literally have more money than time.
A time bank is a good way to address this serious flaw in our economy because:
- Time is something we all have and can offer to each other.
- Time is finite and definite: one hour is one hour. There can never be inflation or deflation of the currency.
- Strict equality of wages: whatever the level of skill or difficulty or specialty of the work done within a span of time, one hour of time spent is one hour of time dollars earned.
Thus there is no possibility of a minority of individuals hoarding wealth in a time economy, unless they actively steal the earned time dollars of others....like in the movies....except in our time economy, we don't genetically engineer or install time-controlled death devices into people, promise!