Equality vis. Time Banking (Theory in progress)
In Time banking, a unit of time serves as a measure of exchange between different people involved in the network. That time could then be converted into any currency system equivalent based on and agreed upon number of units per hour. Since the Time Bank itself does not use currency, this step is unnecessary, and exchanges based on amount of time spent in an activity may be made directly. The drawback to such a system is that it can limit the flexibility of exchanges, due to the varying levels of skill, tools, or materials required to accomplish different tasks. The traditional argument of a plumber’s time being worth more than the time of a teenage babysitter is sometimes used to reject the egalitarianism of Time Banks. On the other hand, that very egalitarianism has the advantage of raising the self esteem of participants in the Time Bank who may otherwise be marginalized by mainstream society.