14 Pages

Green Pounds reach the Parts Other Currencies Can’t

At the same time people do not seem to behave in LETS as they do in capitalism, for example running up bad debts (by leaving the system in deficit, whereupon all remaining members would share the loss). Members usually justify the trust invested in them to behave considerately:

The trust is greatly helped by the fact that a large proportion of the group, including myself, don’t mind if somewhere along the line we give more than we get. (an Australian LETS coordinator cited in The Independent, 1.5.92, 16)

In fact LETS have many different virtues, appealing to a variety of ideologies. This is perhaps symptomatic of the ideological diversity (or incoherence) displayed by ecologism in general, thinks Seyfang. She has assessed LETS alongside the criteria for different theories of value (Table 2.1, p. 49), and finds elements of all mainstream theories present.