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Article
An appraisal of Local Exchange and Trading Systems in the United Kingdom
Local Economy (1996)
  • Colin C Williams
Abstract
During the past few years, Local Exchange and Trading Systems (LETS) have emerged through the
United Kingdom and are being widely heralded as a new tool for promoting community development.
Indeed, 64 per cent of local authorities have expressed an intention to develop a LETS in their area (Gibbs et al, 1995). However, there has been little, if any, appraisal of LETS which can inform such policy initiatives. Therefore, the aim of this paper is to report the results of a national survey of the origins, objectives, growth, magnitude, character and impacts of LETS. Arising out of this, several alterations are recommended in their internal and
external operating environments so as to enable LETS to become more effective tools for promoting community development.
Keywords
  • informal economy,
  • informal sector,
  • money,
  • currency,
  • exchange
Publication Date
Spring June, 1996
Citation Information
Colin C Williams. "An appraisal of Local Exchange and Trading Systems in the United Kingdom" Local Economy (1996) p. 259 - 266
Available at: http://works.bepress.com/colin_williams/84/