I think Andrew Yang introduced the concept of time banks as a part of his policy. Regardless of what you think of Yang, I thought time banks were interesting on their own. I found one time bank here. https://timerepublik.com/ The basic concept is it is a leger that keeps track of hours, and people can pay an hour credit for an hour of ork, or sell their hours for credits.
My thoughts is that given that a janitor's time is not worth a programmer's time, the hour-credit currency is subject to deadweight losses https://en.wikipedia.org/wiki/Deadweight_loss. However, I did read, "Equal Time, Equal Value," and the data shows that time banks increase volunteerism, and they give poor people access to services the poor otherwise could not afford.
Comparing time banks to stamp scrip currencies of the 1930's https://theplanforthefuture.org/2018/06 ... -of-worgl/, I also think time banks could be used as a local currency (which they are traditionally used for anyway), to fight any liquidity traps. So, when the rich stop spending, and the poor have no money to spend, all the money is stuck in Wallstreet. So, the local currencies could pick-up from there.
Specifically, I could see cryptocurrencies, whose spending and nodes are limited to the ip-addresses within a county, parish, or provence. There could be a time-bank currency in each county. The social contract could make it such that it is strictly for people's time. In good times, when people want to use the national currency, the provincial crypto-currencies will increase volunteerism and foster social trust. In the bad times, it will become the fallback currency. Traditionally, stamp scrip currencies failed in the good times.
What do you think?
