Quote:
Originally Posted by Giggleton
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.
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All time is equal? Nonsense. The labor of the barber is of no use to a bald man. The labor of a butcher is of no use to a vegetarian.
You claim that traditional money has all of the same problems as timebanks. Nonsense.
What happens if the bearer doesn't live in the same state as the issuer? Money can be spend anywhere. A timebank certificate is useless if you aren't where the issuer lives.
What happens if the bearer becomes unable to work? Money isn't dependent on the status of the issuer. If the issuer of the timebank becomes ill and does, the certificate becomes useless.
What happens if the bearer can't use the issuer's labor? A barber can give a dollar to anyone in exchange for goods or services, a bald man can use the barber's dollar as easily as can anyone else. But if the barber gives the a timebank certificate to a bald man, it is worthless.
How does the bearer value the note if they don't know the value of the issuer's labor? Any given dollar is as good as any other dollar. But with a timebank certificate, unless you know the laborer very well, you can't value the certificate. The labor of a poor carpenter is not the equal of the labor of a master carpenter.
Timebanks aren't banking time at all. They deal in labor, they are just denominated in hours of labor.