Well, yes – sort of. But you’d be well advised to do it officially through a LETS or Local Exchange Trading System! These are local, non-profit community trading groups which allow members to offer goods or services in exchange for ‘credits’ which they can then spend in order to access the goods or skills they need from other members.

 

LETS operate a bit like your local baby-sitting club, where members earn credits by baby-sitting other people's children, ‘spending’ whenever they themselves need child minding. LETS uses the same model but extends the range of services to whatever is available locally. A good LETS system can provide members with all sorts of goods and services including, clothing, housing, transport, health and legal services, repairs, equipment, business services and entertainment at reduced or no cost through the operation of a community based credit economy.

 

 

The LETS organisers function as ‘bookkeepers’ and monitor the members' transactions, keeping record of the exchanges and putting the members' accounts into debit or credit accordingly. An account which is in credit identifies a member who has extended more service hours or goods than she's received. An account which is in debit identifies a member who has received more service hours or goods than she's given.

 

Everyone has something to trade - you’d be astonished what people find to barter! You could let someone use your washing machine, lawn mower, wallpaper stripper etc.; you could cook for someone’s dinner party, lend out your tent or ski equipment, let someone else share your darkroom, pottery kiln etc., you could offer dancing or music lessons, computer repair or training, professional advice, offer your spare room for someone’s visiting relatives, gardening, DIY skills, storage space, help in assembling flat pack furniture, car maintenance, dog walking, web site design, massage, interior design advice….. You name it - chances are it’s been traded! Have a look at the ‘wanted’ listings. There may be something you can do or offer but you’d never have considered trading.

 

The value attached to one's time is established on an individual basis amongst the participating members. You agree how many ‘credits’ the exchange is worth before you provide the service. Guidance is often given by the LETS organisation.

One very beneficial by-product of the bartering system is that in practice it seems to equalise the wage differentials that exist in the value attached (in the conventional economy) to the work of women as compared to the work of men. Many women who have accumulated a wide range of very valuable skills that are not particularly well rewarded in the general commercial world can suddenly find themselves highly valued and sought after members of the LETS community. In fact, traditional valuations can actually be reversed. Activities which are traditionally low-paid can end up being rewarded more generously and activities which are highly-paid may well trade at lower prices.

 

 

It’s true problems could emerge if members allow their accounts to go too far into debit. For that reason many LETS groups place a maximum debit limit on their members' accounts to keep this in check. Organisers may also encourage other members to trade with the debtor in order to help him or her quickly reduce the debt.  

 

 

Generally no. If you wish to purchase goods or services from the LETS system you can usually do so straight away. You will simply go into ‘debt’.

 

There is a well-established LETS group in Edinburgh. Members offer a very wide range of goods and services in exchange for ‘Reekie’ credits. Reekie credits are roughly equivalent to £1 and organisers say most members value their time at around 5 Reekies per hour.

 

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