ABSTRACT
Manchester was founded in November 1992 with 120 members and grew at its height in April 1995 to a membership of 463 members. The highest net creditor was also the highest trader, with a credit of B1000 on a turnover of B8347. This suggests that Local Exchange Trading Schemes (LETS) did seem to work as a self managed system, with little serious defection, and that at least 40 of the members did seem to be able to develop networks that worked for them such that they had remained in the network for more than 6 years. Social Movement theory is a powerful tool for an analysis of LETS as a form of political action. Social movement theory starts from the social movement and explains what it is, rather than imposing metanarrative explanations. Touraine's model of Sociological Intervention was a useful place to start the analysis.
