Sustaining Time Banks and Time Banking in a money driven economy /
North Carolina-based Time Banks USA (Time Banks) is a time bartering firm founded by Edgar Cahn and led by Krista Wyatt. Time banking is an alternative to monetary transactions and is based on the number of hours a person offers any kind of service to other individuals or organizations. It is a glob...
| Main Authors: | , |
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| Format: | eBook |
| Language: | English |
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London :
SAGE Publications: SAGE Business Cases Originals,
2023.
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| Series: | SAGE business cases.
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | North Carolina-based Time Banks USA (Time Banks) is a time bartering firm founded by Edgar Cahn and led by Krista Wyatt. Time banking is an alternative to monetary transactions and is based on the number of hours a person offers any kind of service to other individuals or organizations. It is a globally accepted practice. Time banking is advantageous for services for which a money-based market system does not work, such as raising healthy children, caring for the elderly. Cahn believed that this type of work should be honored and rewarded.Time Banks operates as a non-profit organization. It follows a barter system, in which Time Banks members can exchange rendering a service for one hour for receiving another service. For example, offering a ride service to someone in need makes a Time Banks member eligible to receive another service, such as appliance repair, based on the need and service listed on the Time Banks website.However, Time Banks faced financial challenges. For it to be truly sustainable, they needed finances. Being a non-profit, Time Banks did not charge any commission or membership fee for providing a platform where service providers and recipients connected. Cahn was considering if Time Banks members should step forward and contribute annual dues? Or if its lenders should support the infrastructure, or if others who are not directly involved can contribute? Students will be asked to explore ways of resolving business model challenges. |
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| Physical Description: | 1 online resource. |
| ISBN: | 9781529618952 1529618959 |