ⓘ Labor notes (currency)

                                     

ⓘ Labor notes (currency)

Labor notes are an alternative currency based on exchange of hours of labor. Two early attempts at implementing labor notes were made by social reformers Josiah Warren and Robert Owen following their experiences attempting to establish a utopian community at New Harmony, Indiana in which currency was prohibited.

In 1827, Warren established the Cincinnati Time Store where goods could be purchased with labor notes representing an agreement to perform labor. However, he folded the store in 1830 in order to devote his effort to establishing communities that implemented his principles of labor-based prices.

Beginning in 1832, Robert Owen and his followers attempted to implement labor notes in London and Glasgow by establishing marketplaces and banks that accepted them. Their efforts failed in 1834.

During the Great Depression, European communities implemented local currencies with varying success. More modern implementations as time-based currencies were implemented in the United States starting in the 1970s.

                                     
  • Labor notes may refer to: Labor Notes organization a 20th - century labor organization and its eponymous magazine Labor notes currency an alternative
  • time. It is usually considered to be the first time alternative currency labor notes were used, and as such the first experiment in what would later be
  • currency union are: Labor mobility across the region. What if we suppose instead that Home and Foreign have an integrated labor market, so that labor
  • private currency in Australia, which it had achieved. The Bank Notes Tax Act was repealed by the Commonwealth Bank Act 1945, enacted by the Chifley Labor Government
  • introduction of a new currency in 1948, the gold yuan. In the 1940s, larger denominations of notes appeared due to the high inflation. 500 yuan notes were introduced
  • another form of currency also backed by government bonds rather than gold and redeemable in United States Notes This non - gold - based currency became the functional
  • The British Currency School was a group of British economists, active in the 1840s and 1850s, who argued that the excessive issuing of banknotes was a
  • The Australian dollar sign: code: AUD is the currency of Australia, including its external territories: Christmas Island, Cocos Keeling Islands
  • A fictional currency is some form of currency defined, or alluded to, in works of fiction. The names of units of such currency are sometimes based on extant
  • the currency U.S. notes was discontinued in January 1971. As a result, currently circulating paper money consists primarily of Federal Reserve Notes that
  • Indiana in which currency was prohibited. In 1827, Warren established the Cincinnati Time Store where goods could be purchased with labor vouchers representing