Case studies of eight LETSystems in Victoria, Australia, are used to explore LETS’ potential to create new ‘communities of meaning’ which reflect local responses to the globalisation of capital. The paper reaches beyond meanings of exchange to explore instead LETS’ potential to facilitate community development which focusses upon maintaining values unique to local communities. The potential for conflict between differing ‘communities of meanings’ within LETSystems is highlighted, as are their attempts at resolving these conflicts. Given these considerations, LETS is regarded as involving significant potential for new, more democratic communities of meaning, albeit within the constraints of broader social values.
Julie Ingleby Volume 2(1998) 2
To cite this article: Ingleby, J. (1998) ‘Local Exchange and Trading Systems (LETS) in Australia: a new tool for community development?’ International Journal of Community Currency Research 2 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.1998.004