About: Local Exchange Trading System   Sponge Permalink

An Entity of Type : owl:Thing, within Data Space : 134.155.108.49:8890 associated with source dataset(s)

A Local Exchange Trading System (LETS) is

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  • Local Exchange Trading System
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  • A Local Exchange Trading System (LETS) is
  • Local Exchange Trading Systems (LETS) are local, non-profit “exchange” networks in which all kind of goods and services can be traded without the need for money. A LETS network uses an interest-free local credit or “currency” so direct swops do not need to be made. A LETS member may earn local credit by doing, eg, childcare or computer work for one person, and spend it later on food, hiring equipment, plumbing or carpentry with another person on the same network.
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abstract
  • A Local Exchange Trading System (LETS) is
  • Local Exchange Trading Systems (LETS) are local, non-profit “exchange” networks in which all kind of goods and services can be traded without the need for money. A LETS network uses an interest-free local credit or “currency” so direct swops do not need to be made. A LETS member may earn local credit by doing, eg, childcare or computer work for one person, and spend it later on food, hiring equipment, plumbing or carpentry with another person on the same network. In the UK an estimated 20,000 people are now trading in over 400 LETS networks in cities towns and rural communities everywhere from Cornwall to Skye, or Western Ireland to Kent. LETS currencies have their own names, and often reflect local distinctiveness- Readies in Reading, Locks in Camden, Groats in Stirling, New Berries in Newbury, Piers in Southend On Sea. LETS can help a wide cross section of the community- individuals, small businesses, local services and voluntary groups- to save money and resources and extend their purchasing power. Other benefits include social contact, health care, tuition and training, support for local enterprise and new businesses, and a revitalised community.
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