Thursday, February 16, 2012 | Categories: Episodes
Three of The Current
Time Banking - Prosperity without Cash
We started this segment with a clip from Shannon Lee Simmons, a 27 year old Toronto woman who left her job as a financial advisor to conduct a year-long experiment she called the Barter Babes Project. She wanted to find out if she could live off bartering alone. The experiment ended last November, but she took us on a tour of her home to show us why her love of bartering persists. We heard from her.
Shannon Simmons isn't the only person to advocate bartering. The Occupy Wall Street movement has challenged many of capitalism's ideas and shone a light on alternate ways to trade, like bartering and Time Banking.
Edgar Cahn is a lawyer and founder of Time Banks USA. Time Banking is a system of exchange that allows participants to donate an hour of time and in return they can redeem an hour of services from another participant.
Edgar Cahn started the first Time Bank in the United States in the 1986. But since the financial crisis began in 2008 and the subsequent wave of austerity measures, Time Banking has seen a surge in the United States and around the world. Today, time banks exist in more than 34 countries.
Edgar Cahn joined us from our studio in Washington DC. And Bonnie Taylor is a time bank member from Providence, Rhode Island.
This segment was produced by Josh Bloch.
Last Word - Schoolhouse Rock
Kids learn at an early age the importance and universality of cash. The US animated series Schoolhouse Rock once undertook the challenge of explaining barter to kids, and it's inevitable conclusion. Today's Last Word, goes to Schoolhouse Rock.
Other segments from today's show: