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The New Barter Economy: An Appraisal of Local Exchange and Trading Systems (LETS)

Published online by Cambridge University Press:  28 November 2008

Colin C. Williams
Colin C. Williams
Affiliation:
Urban Studies, Leeds Metropolitan University, Centre for Urban Development and Environmental Management, Leeds Metropolitan University, Brunswick Building, Leeds, LS2 8BU. Tel: 0113 2832600 x4057 Fax: 0113 2833190 E-mail:C.C.Williams@lmu.ac.uk
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Abstract

A new form of barter economy is emerging in many industrial nations. People are exchanging goods and services through Local Exchange and Trading Systems (LETS). These are local associations whose members list their offers of, and requests for, goods and services in a directory and then exchange them priced in a local unit of currency. Using a United Kingdom case study of Totnes LETS, this paper presents a preliminary appraisal of their economic, social equity and community-building objectives. It finds that although LETS are fulfilling these objectives, achievements could be substantially improved with some alterations in public policy towards LETS.

Type
Articles
Information
Journal of Public Policy , Volume 16 , Issue 1 , January 1996 , pp. 85 - 101
Copyright
Copyright © Cambridge University Press 1996

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