The local exchange and trading systems or schemes operate all over the UK, generating goodwill and revitalizing communities while offering services to those in need regardless of circumstance.
According to the LETS main website, it is a community-based mutual aid network in which people exchange all kinds of goods and services with one another, without the need for money. Research completed in 1996 indicated that there were at least 40,000 people who were involved in LETS schemes across the country, with some 450 LET scheme outlets.
The LETS theory is that services, parts and labour of all kinds are exchanged but without the gain of money. Instead the system operates on a Mutual Credit basis. Derek Day, one participant of a LETS in Birmingham explains.
”The Local Exchange and Trading Scheme allow people to offer their skills and items they don’t really want to those who don’t have the sterling to pay for it. For example someone in need of an electrical service or rewiring would join their local LETS group, find someone who offers electricity parts or labour, contact the individual via the LETS directory and agree a price of LETS credits”
“Payment is by LETS cheque, and the buyer is in debt by so many “hearts”, the popular LETS currency”.
Derek, who was recently asked to help with a plumbing situation in the so called Cottage of Content Community Centre continues; “It is difficult to try and explain this as we live in a world of consumer credit and debt. The use of parts or labour is not regarded as a financial debt, as many would be. All that is expected is that sometime in the future the ‘buyer’ will put something back into the scheme, by offering their unwanted parts or skills and services”.
Asked how he came to know about the Cottage of Content, Derek Day replied “An appeal was put out on the LET scheme for a plumbing service, and as a skilled plumber I contacted, arranged and came. This is usually how contact is made between ‘buyers’ and ‘sellers’ of skills.”
“I plumbed from the rising main in the community centres’ cellar right across to the kitchen and again across to the toilets and wash basin downstairs.”
Although no any formal connection exists between LETS and ‘Freecycle’, a similar good-will scheme, it is thought that both cooperate and share links and contacts with one another. Derek explains, “Freecycle is when you have something you no longer want, like a computer screen, but it is too good to be thrown in the skip. Search the freecycle Yahoo groups, and someone will arrange to pick it up!”
More information about a goodwill-generating LETS in your area can be found on:
http://www.letslinkuk.net
The LETS theory is that services, parts and labour of all kinds are exchanged but without the gain of money. Instead the system operates on a Mutual Credit basis. Derek Day, one participant of a LETS in Birmingham explains.
”The Local Exchange and Trading Scheme allow people to offer their skills and items they don’t really want to those who don’t have the sterling to pay for it. For example someone in need of an electrical service or rewiring would join their local LETS group, find someone who offers electricity parts or labour, contact the individual via the LETS directory and agree a price of LETS credits”
“Payment is by LETS cheque, and the buyer is in debt by so many “hearts”, the popular LETS currency”.
Derek, who was recently asked to help with a plumbing situation in the so called Cottage of Content Community Centre continues; “It is difficult to try and explain this as we live in a world of consumer credit and debt. The use of parts or labour is not regarded as a financial debt, as many would be. All that is expected is that sometime in the future the ‘buyer’ will put something back into the scheme, by offering their unwanted parts or skills and services”.
Asked how he came to know about the Cottage of Content, Derek Day replied “An appeal was put out on the LET scheme for a plumbing service, and as a skilled plumber I contacted, arranged and came. This is usually how contact is made between ‘buyers’ and ‘sellers’ of skills.”
“I plumbed from the rising main in the community centres’ cellar right across to the kitchen and again across to the toilets and wash basin downstairs.”
Although no any formal connection exists between LETS and ‘Freecycle’, a similar good-will scheme, it is thought that both cooperate and share links and contacts with one another. Derek explains, “Freecycle is when you have something you no longer want, like a computer screen, but it is too good to be thrown in the skip. Search the freecycle Yahoo groups, and someone will arrange to pick it up!”
More information about a goodwill-generating LETS in your area can be found on:
http://www.letslinkuk.net
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