Quote:
Originally Posted by QuantumIguana
Timebanks *ARE* a form of money. Just one that is extremely flawed. At most, it could be a very minor supplement to to normal money.
What happens if the bearer doesn't live in the same state as the issuer?
What happens if the bearer becomes unable to work?
What happens if the bearer can't use the issuer's label?
How does the bearer value the note if they don't know the value of the issuer's labor?
What if the bearer can't use the issuer's labor?
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All time is equal, that is why timebanks are good. If someone can't work then there are other things that can be done, but money has the same problems as timebanks here.
A well organized timebank could certainly surpass money, but there is very little room, perhaps none for those who wish to make a profit from time itself, as is currently very possible with money, i.e. speculation.