Time/Bank

octobre 31, 2010

 

 

 

 

 

 

Time/Bank currency design by Lawrence Weiner.
Photo by Julieta Aranda.

Time/Bank and e-flux are pleased to announce the grand opening of the Time/Store.

Time/Store on Essex Street follows the historic Cincinnati Time Store, opened by the American anarchist Josiah Warren in 1827 as a three-year experiment in alternative economics. Warren’s idea was to develop an exchange system where the value assigned to commodities would come as close as possible to the amount of human labor necessary to produce them. For example: 8 hours of a carpenter’s labor could be exchanged for eight to twelve pounds of corn. This system eventually led to the creation of time currency, and to contemporary time banking—an international movement of alternative economics.

Time/Store on Essex Street is an extension of Time/Bank—a platform where groups and individuals in the art community can trade time and skills, bypassing money as the measure of value. Every Time/Bank transaction allows individuals to request, offer, and pay for services in « Hour Notes. » When a task is performed, the credit hours earned may be saved and used at a later date, given to another person, or contributed towards developing larger communal projects. For example, if you happen to be in Beijing or Hamburg and need someone to help you shop for materials or translate a press release, you can draw on resources from Time/Bank and get things done without cash changing hands.

For more information and to open an account, please visit www.e-flux.com/timebank

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