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In 1980, Edgar designed timebanking (then time dollars) as a new currency, where people exchange time, not money, and where an hour of service was always priced at an hour. Timebanking would encourage caring, grow trust, and engender self-empowerment.
The idea went viral. Thousands of inquiries sparked hundreds of new starts. Two states even created legislation in support of timebanking. But in time, the number of timebanks began shrinking, not growing. By the mid-nineties, few remained. Could the vision be realized?
The answer was unclear. Some TimeBanks were thriving, impactful, and changing lives for the good. So, the concept was working, and powerfully – but why not everywhere? We are getting there!
Edgar believed that global markets rewarded unbridled self-interest, winner-take-all competition, and runaway specialization. Consequently, he argued for an economy that rewarded decency, caring, civic participation, and learning.
His concept was very simple: one hour = one credit, every hour is equal, and every human being and every contribution are of equal value. This was Edgar's legacy and TimeBanks.Org exists to honor and build on this legacy.
About Us
In 1995, Edgar created The Time Dollar Institute – renamed for many years as TimeBanks USA and with new board and Krista Wyatt joining in 2020 changed to TimeBanks.Org since we network with timebanks worldwide, to find answers, recharge the existing network, help new timebanks get started, find and share what worked, and gain support for timebanking as a transformative, system-changing approach from policymakers and funders.
To address a critical challenge: Timebanking is a purpose-built currency, created to overcome problems caused by money. But money’s dominance is everywhere. To be truly effective and impactful, each TimeBank must deal with the money question.
Obviously, in hindsight, the money conundrum explained the struggles. It called for solutions. In 1998 Richard Rockefeller brought grassroots timebank leaders together to learn from each other. In 2000, in No More Throw-Away People: The Co-Production Imperative, Edgar laid out five key principles for forging two-way bridges between money and timebanking. Leaders dug in and found practical solutions. Timebanking conferences spurred more learning. Timebank software was created. By the early 2000s a genuine, worldwide movement was growing.
TimeBanks.Org continues to open up the space for more reciprocity in communities all over the world. Whether it's introducing the values of TimeBanking to your organization or growing a global community of local TimeBanks, we exist to help communities and partners create a culture of trust, empathy, and connection; where everyone is valued and where equity is celebrated and honored.
Edgar continued to be a towering, inspirational figure until his passing in January of 2022.
Here at TimeBanks.Org, we will continue his legacy by supporting the timebanking movement worldwide, helping to build the growing solidarity economy, and opening doors for people to become change agents for a better world.
At the grassroots level, we seek to ensure that local TimeBanks have information, tools, and – most important of all -- connections with other timebanks to help them succeed.
At the policy level, we will continue to reach out to local civic leaders, universities, and state and national policymakers to consider how timebanking can become a systemic force for change, locally and globally.
At the technology level, we are poised for impactful changes ahead. For over 20 years, we’ve supported the growth and success of TimeBanks through our dedicated timebanking software, crafted by passionate TimeBanking enthusiasts. However, as the landscape evolved and numerous software platforms emerged, we found that our mission—to address the pressing needs of communities—was about more than just software management.
We made a significant shift by stepping away from managing timebank software. Instead, we are investing in providing tools, share multiple ways to run your timebank with or without software and resources into empowering TimeBanks to reach their full potential, fostering an environment where they can thrive irrespective of the software they opt to use.
Our TimeBank communities have navigated a landscape marked by profound changes and challenges. As we approach our 30th anniversary, our commitment to honoring Dr. Cahn’s legacy and providing educational resources and nurturing the practice of timebanking on a global scale is stronger than ever.
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© 1995- 2024 TimeBanks.Org is a registered (501c3) charity based in Washington D.C. All rights reserved. TimeBanks.Org refers to the TimeBank global advocates as a network of TimeBanks and/or one or more of its members, each of which is a separate legal entity.
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