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I would use a Babysitting Clearing Union approach for Baby Hours. A levy would be applied to positive and negative balances of Baby Hours so that a fund of a Baby Pool of Baby Hours is formed. A dividend of Baby Hour Units from the Pool is then distributed equally to all members.

The advantages of this approach are:

(a) Members with positive balances are incentivised to use Hours or lose them;

(b) Members with negative balances are motivated to reduce the balance by doing baby-sitting;

(c) A balance of Baby Hours in the pool is available to cover defaults ie if a member leaves with a negative balance.

Baby Hours are not money, but they are a form of currency or 'money's worth' (or 'wealth'). Such a levy on positive balances is the Gesellian approach which Keynes adopted for his Bancor/ International Clearing Union proposal at Bretton Woods.

Wherever a barter system incorporates credit (or time to pay) the result is a monetary system. The Swiss WIR is a good example of such a credit clearing system where goods and services are exchanged not FOR Swiss Francs as a fiat currency, but BY REFERENCE TO the Swiss Franc as a value standard or unit of measure..

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Mon Nov 16th, 2009 at 06:18:01 AM EST

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