The concept of
Time Dollars is an alternative system of
currency and
payment of goods and services. One time dollar is equal to one hour of community service. They are immune to fluctuations inherent in currencies backed by goods or
precious commodities. Furthermore, they are also immune to
problems associated with
hoarding for the very same reason. They are issued via mutual credit, and value the time of each person equally regardless of skills or talents.
In practice however, they are only effective in small closed economic communities, such as homes for the
elderly, and isolationist societies.