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The Five Core Values of TimeBanking
In 1980, Edgar Cahn dreamed up a new kind of money. This new money would have no price: every hour would count the same. 1 hour = 1 hour.
Passionate about social justice, Edgar saw timebanking as a way to restore community, to recognize and reward civic engagement. In the decades that followed, he became its strong, persistent champion, promoting timebanking as a tool for creating a more just, more caring world. In 1995 he founded the Time Dollar Institute -- now known as TimeBanks USA -- to promote timebanking in the US and around the world.
In his book No More Throw-Away People, Edgar listed four core values for timebanking. He later added a fifth. These values have come to be widely shared, and many timebanks strive to follow them.
The 5 Core Values
Asset Every one of us has something of value to share with someone else.
Redefining Work There are some forms of work that money will not easily pay for, like building strong families, revitalizing neighborhoods, making democracy work, advancing social justice. Time credits were designed to reward, recognize and honor that work.
Reciprocity Helping that works as a two-way street empowers everyone involved – the receiver as well as the giver. The question: “How can I help you?” needs to change so we ask: “Will you help someone too?” Paying it forward ensures that, together, we help each other build the world we all will live in.
Social Networks Helping each other, we reweave communities of support, strength & trust. Community is built by sinking roots, building trust, creating networks. By using timebanking, we can strengthen and support these activities.
Respect Respect underlies freedom of speech, freedom of religion, and everything we value. Respect supplies the heart and soul of democracy. We strive to respect where people are in the moment, not where we hope they will be at some future point.
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