Time banks: Currency the way it was meant to be
By Amanda Hollenbeck The act of time banking has become a popular practice across the country, but it is not a brand-new convention. According to the official time bank website, in the 1980’s, Edgar Cahn coined the concept of Time Banking as exchanging time and effort in lieu of physical cash for services. Cahn’s idea of time banking was birthed after Ronald Reagan proposed cuts to social programs. Cahn thought that without these programs and lack of social funding, money would have extreme power, and communities might fall apart. By using time banking, communities have the ability to build and connect outside of the of the power and, sometimes corruption, of physical money. Thanks to the efforts of thousands who have participated in time banking and the...
