Timedollar

Timedollar is a concept that proposes a unit of currency based on time. In this system, one timedollar would be equivalent to one hour of labor or service. The underlying principle is that all work, regardless of its perceived value or skill level, has an inherent worth equal to the time it takes to perform. This aims to create a more equitable economic system where individuals are compensated directly for their time commitment rather than by market fluctuations or employer discretion.

The idea suggests that a timedollar economy would eliminate wage disparities and promote mutual respect among different professions. For example, a doctor's hour would be valued the same as a janitor's hour. This could be implemented through local exchange trading systems (LETS) or potentially on a larger scale with dedicated timedollar banks or platforms. Proponents argue that it would foster community involvement and reduce exploitation by valuing everyone's contribution equally.

Critics often raise concerns about the practicalities of implementation, such as determining equivalent services, managing inflation or deflation of the timedollar, and the potential for abuse. There are also questions about how to account for specialized skills that require extensive training or unique talents. Despite these challenges, the timedollar remains an interesting theoretical model for alternative economic structures focused on the fundamental value of human time.