The Role of the Third Sector in Paving a ‘Third Way’: Some Lessons From Local Exchange and Trading Schemes (LETS) in the United Kingdom

May 23, 2012August 14, 2016 IJCCR

Despite declarations that the third sector is to play a prominent role in paving a Third Way, there remains much confusion about what constitutes this Third Way and the role of the third sector in bringing it about. Evaluating Local Exchange and Trading Schemes (LETS) as a prominent third sector initiative, the aim of this paper is to analyse its effectiveness in fulfilling various roles being assigned to it. This reveals that although many view the role of the third sector in paving a Third Way to lie in its ability to create jobs and improve employability in order to achieve ‘full-employment’, these initiatives are most effective at facilitating community self-help and thus means of livelihood beyond employment. We thus conclude that for the third sector to be used effectively and the Third Way to become a distinct and radical departure from the past, there will need to be a shift from both an ’employment-ethic’ to a ‘work ethic’ and a ‘full-employment’ to a ‘full-engagement’ vision.

Colin C Williams, Theresa Aldridge, Roger Lee, Andrew Leyshon, Nigel Thrift and Jane Tooke Volume 5(2001) 3

IJCCR Vol 5 (2001) 3 Williams et al

To cite this article: Williams, C.; Aldridge, T.; Lee, R.; Leyshon, A.; Thrift, N.; Tooke, J. (2001) ‘The Role of the Third Sector in Paving a ‘Third Way’: Some Lessons From Local Exchange and Trading Schemes (LETS) in the United Kingdom’ International Journal of Community Currency Research 5 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2001.003

On LETS and Time Dollars

May 23, 2012August 14, 2016 IJCCR

A comparative analysis of LETS and Time Dollars seeks to identify their distinctive strengths and shortcomings, makes a plea for collaboration. The piece argues that most of the differences stem from their purpose: LETS is seeking to create an alternative economy to market; Time Dollars are seeking to rebuild what is termed the Core Economy, rooted in family, extended family, neighbors and civil society. While both seek to build community and counter the external costs of the global economy, LETS seeks to do so by returning the world of commerce to a local basis, while Time Dollars expressly seeks to do so by rebuilding the Core Economy, purged of the elements of subordination, discrimination and exploitation that characterized the functioning of that economy in the past. Both have important contributions to make and the challenge is to make sure that future relationships are in cooperation rather than competition.

Edgar Cahn Volume 5(2001) 2

IJCCR Vol 5 (2001) 2 Cahn

To cite this article: Cahn, E. (2001) ‘On LETS and Time Dollars’ International Journal of Community Currency Research 5 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2001.004

LETS and Benefit Claiming in the UK: Results of a Pilot Project

May 22, 2012August 14, 2016 IJCCR

One of the most contentious aspects of the debate about Local Exchange and Trading Systems (LETS) concerns the benefit system. Whereas other nations have amended the rules of their social security systems in order to facilitate participation in LETS, this has not been the case in the UK. This article is based upon a short, pilot project conducted at the turn of the millennium. It involved a series of interviews with LETS members and with national politicians who had publicly expressed an interest in LETS because of the benefit implications, whether real or perceived. We found evidence of claimants either not joining LETS or, of those who did join or became claimants whilst belonging to a LETS, keeping their LETS-related activities at a modest level. LETS members are clear that the benefit system must change to accommodate their needs and interests.

Tony Fitzpatrick Volume 4(2000) 6

IJCCR Vol 4 (2000) 6 Fitzpatrick

To cite this article: Fitzpatrick, T. (2000) ‘LETS and Benefit Claiming in the UK: Results of a Pilot Project’ International Journal of Community Currency Research 4 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2000.002

The Economics of Local Exchange and Trading Systems: a Theoretical Perspective

May 22, 2012March 24, 2015 IJCCR

This paper sets out to describe and analyse Local Exchange and Trading Systems (LETS) in economic terms. A LETS performs three main functions: the provision of transaction management services, credit, and market matching. LETS is an alternative form of money. A LETS is in (economic) theory attractive because: it provides cheap and flexible credit; allows the marketing of labour time in small disperse quantities without the need for an employer or capital; and, because its money function is locally contained, it can potentially alleviate some of the welfare implications of external shocks and structural interregional trade-imbalances. This feature operates through reviving local exchange of non-tradables by providing a medium of exchange. Unfortunately, current research does not provide a good basis for testing the validity of these potential functions of LETS because LETS is a heterotopia, of which the membership is neither representative of the population, nor primarily economically motivated.

Jorim Schraven Volume 4(2000) 5

IJCCR Vol 4 (2000) 5 Schraven

Community-based LETSystems in Australia: Localised Barter in a Sophisticated Western Economy

May 22, 2012August 14, 2016 IJCCR

Modern domestic barter systems are operating in Australia and other high income countries at the local community level, and at the national level for business exchanges. These exchange regimes appear to have become institutionalised in a macro-marketing system that is organised on the primacy of market exchange based on price as the co-ordinating device. This points to widespread imperfections in various markets at the local level, and in particular, in markets for credit and labour. In this paper, the nature of Australian community-based LETSystems is discussed and some results from a national survey in Australia of LETS members are presented. The interface between LETSystems, the federal taxation system and the social security system in Australia is introduced.

Peter W. Liesch and Dawn Birch Volume 4(2000) 2

IJCCR Vol 4 (2000) 2 Liesch and Birch

To cite this article: Liesch, P.W.; Birch, D. (2000) ‘Community-based LETSystems in Australia: Localised Barter in a Sophisticated Western Economy’ International Journal of Community Currency Research 4 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2000.005

Why Do People Join Local Exchange Trading Systems?

May 22, 2012August 14, 2016 IJCCR

The literature dealing with LETS has regarded them primarily as economic associations and, in so doing, may have overlooked other features of LETS that are equally important. This paper aims to rectify some of that neglect by focusing upon the motivational values of LETS members. Whilst it has been recognised that a significant proportion of their membership can be identified as ‘Green’, the radical consequences of this membership has been neither fully recognised nor explored. This paper offers a taxonomy that enables us to locate and classify members’ motivations and does so with particular reference to Green ideals. It argues that to dismiss LETS as simply an expression of an alternative lifestyle may ignore the fact that a significant proportion of members are aware of, and wish to promote, the radical Green potential of these schemes. Given the current lack of practical Green alternatives within social policy this potential should not go unrecognised and the paper is presented as an attempt to open up areas for further debate.

Caron Caldwell Volume 4(2000) 1

IJCCR Vol 4 (2000) 1 Caldwell

To cite this article: Caldwell, C. (2000) ‘Why Do People Join Local Exchange Trading Systems?’ International Journal of Community Currency Research 4 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2000.006

Nouvelles formes de sociabilités ou les limites d’une utopie politique

May 22, 2012August 14, 2016 IJCCR

France has one of the highest number of functioning LETS of all advanced economies. Based on a recent survey of LETS in France, the aim of this paper is to both provide an overview of the structure and nature of LETS in this country and to investigate whether these experiments are new ways of constructing sociability and/or whether they are more intended as political utopias. The finding is that LETS are vehicles that enable transfers to take place in social spaces which have the power to negate the official monetary economy by transforming exchange in symbolic social and political ways.

Smaïn Laacher Volume 3(1999) 2

IJCCR Vol 3 (1999) 2 Laacher

To cite this article: Laacher, S. (1999) ‘Nouvelles formes de sociabilités ou les limites d’une utopie politique’ International Journal of Community Currency Research 3 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.1999.002

Green Domination In Norwegian LETSystems: Catalyst For Growth Or Constraint On Development?

May 22, 2012August 14, 2016 IJCCR

Research from New Zealand, Australia and the UK has shown that LETSystems in many instances are dominated by “greens”. This paper presents the results from a survey of four Norwegian LETSystems. The findings show that the situation in these LETSystems is, to a large extent, similar. Members are generally politically radical, and seem to have joined LETS primarily for environmental/ideological reasons. Most have full-time employment, are rather well off in economic terms, and a vast majority have university education. The paper concludes that although such a biased membership profile theoretically hinders full achievement of the aims of LETS, it may be a necessary first step towards more widespread success.

Even Gran Volume 2(1998) 3

IJCCR Vol 2 (1998) 3 Gran

To cite this article: Gran, E. (1998) ‘Green Domination In Norwegian LETSystems: Catalyst For Growth Or Constraint On Development?’ International Journal of Community Currency Research 2 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.1998.003

Local Economic Trading Systems: Potentials for New Communities of Meaning: a brief exploration of eight LETSystems, with a focus on decision making

May 22, 2012August 29, 2017 IJCCR

A LETS can be described as a non-profit community based trading network that operates by way of a locally created currency, i.e. a locally recognised measure of exchange value as distinct from national currency. LETS’ emergence in the 1980’s, and rapid growth throughout English speaking countries in the 1990’s (Williams 1995), arguably stems from experienced scarcity of money in local communities. According to Jackson (1994), it is primarily a product of developed nations ‘where money has assumed dominance as the medium for exchange’. Considered in the context of contemporary economic developments, LETS also invites regard as localised responses to the globalisation of capital. It was with an eye to the latter, that I undertook this exploration of eight LETS groups in Victoria, Australia.

IJCCR Vol 2 (1998) 2 Ingleby

To cite this article: Ingleby, J. (1998) ‘Local Economic Trading Systems: Potentials for New Communities of Meaning: a brief exploration of eight LETSystems, with a focus on decision making’ International Journal of Community Currency Research 2 ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.1998.004