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The Early Days
In 1980, Edgar Cahn introduced timebanking (initially called Time Dollars Institute), a revolutionary idea where people exchanged time instead of money, with one hour of service always equaling one hour. This concept aimed to foster caring, trust, and self-empowerment. The idea quickly gained traction, sparking thousands of inquiries and even inspiring state legislation in support of timebanking. However, by the mid-1990s, the number of timebanks dwindled. While some timebanks continued to thrive and make a significant impact, the broader vision of widespread adoption remained uncertain.
Edgar’s vision challenged the global market’s focus on self-interest, competition, and specialization, advocating for an economy that prioritized decency, caring, civic participation, and learning. His simple yet powerful principle was that every hour, every person, and every contribution holds equal value. TimeBanks.Org exists to honor and expand on Edgar’s legacy, continuing to build on this vision of a more equitable and community-driven world.
Timeline
1980
Edgar Cahn designed timebanking (originally called Time Dollars Institute), introducing a new currency where people exchanged time instead of money. Each hour of service was valued equally, fostering caring, trust, and self-empowerment.
The concept gained widespread attention, leading to thousands of inquiries and the establishment of hundreds of timebanks. Two states passed legislation in support of timebanking. However, the momentum slowed, and by the mid-1990s, only a few timebanks remained.
1995
Edgar created The Time Dollar Institute (later renamed TimeBanks USA and eventually TimeBanks.Org). The organization aimed to revitalize the timebanking movement, support new timebanks, and develop systemic solutions to challenges.
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. 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.
2000
Edgar published No More Throw-Away People: The Co-Production Imperative, detailing 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.
2020
The organization rebranded as TimeBanks.Org under a new board, with Krista Wyatt joining the leadership team. The focus shifted to networking with timebanks globally, supporting new initiatives, and advocating for timebanking as a transformative approach.
TimeBanks.Org continued to open up the space for more reciprocity in communities all over the world. Whether it's introducing the values of TimeBanking to organizations 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.
Now
TimeBanks.Org supports the movement by offering tools and resources, advocating for policy change, shifting focus from managing software to empowering communities, and fostering global connections to share best practices.
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.
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.
Future
TimeBanks.Org continues to honor Edgar Cahn’s vision by strengthening the solidarity economy and empowering communities to build a culture of trust, empathy, and equity globally.
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.
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. 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.