Living outside of failing industries

[eridani]

http://www.commondreams.org/headline/2012/08/28-6

"With much more fiscal austerity in the pipeline and unemployment at astronomic highs, the risks areclearly tilted towards a more protracted recession," said Martin van Vliet, an economist at ING.

However, as the Washington Post reports today, at a time when the future of the euro is in doubt and millions are unemployed, alternative forms of exchange and survival are springing up in the cracks of capitalism, allowing people to exchange, barter, and live outside of failing currencies.

One example given by the Post is the proliferation of "time banks" throughout the country. Time banks allow people to trade their services amongst one another in a currency of hours. One provides a service for a certain amount of time and can 'buy' another service for that same amount of time. Time banks allow people to exchange labor and services without the need for abstract currencies

In another instance, residents in the city of Malaga have established a website which allows individuals to earn money and buy products using a virtual currency.

In the Catalonian fishing town of Vilanova i la Geltru, residents are experimenting with a localized currency, which is worth slightly more than the euro when it is used at local stores. “This is a way for people who are on the fringes of the economy to participate again,” said Josefina Altes, coordinator of the Spanish Time Bank Network.

[bemildred]

1. Half the economy is off the books now.

Hmm. A trend perhaps?

[Warpy]

2. Cape Cod largely does this in the winter

when there are no tourists pumping money into the economy. Goods and services are traded widely and if you need something, all you need do is mention it to the barter grapevine and you'll get it within a few weeks, at most. I imagine it's the same in a lot of tourist areas that are nearly deserted in the off season.

As money continues to be hoarded by the few and those of us with skills are shortchanged at work, expect to see the barter system take over more and more. It's a messy system but it does work.