Time Banking, Explained


It’s impossible to say for sure, because time banking is simply a wholly different phenomenon.

For example, it is certainly less volatile and more liquid, as time units are constant. Time banking units retain these properties even when expressed in fiat units because labor costs are very stable.

However, time banking has its downsides. Let’s say you have some amount of hours and you want to hire a lawyer. The lawyer you need might not use a time banking system, or if he does, it may be the case that you don’t have enough credits to employ him and need to find a workaround.

Overall, time banking and other forms of money are like apples and oranges - too different to determine which one is better in absolute terms.

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