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Non-MonetaryEconomy.pdf (application/pdf Object)by: Edgar
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Notes for this articleEdgar Cahn, Emeritus Professor of Law at David Clarke School of Law in Washington D.C., created the time banking system in the 1980’s. In this detailed description of the non-monetary or core economy, he includes the result of studies and analysis to contrast it against the market economy. Additionally, he clearly explains how the market economy depends on the non-monetary economy to function properly.
Including household labor, caring, and civic activity, as clear examples of the non-monetary economy, Dr. Cahn identify existing support to include the value of the core economy as “real” work, instead of ignoring it. In his opinion, the non-monetary economy is being reduced by progress. In the past, women had to stay at home, children were required to help, and discrimination kept people slave, exploited, or with lower expectations. To keep up with our new realities, the critical importance of families and neighbors justifies the need to build self-sustainable community-based initiatives.
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