THE FUTURE OF MONEY Bernard A. Lietaer - library.uniteddiversity ...

The goods and services exchanged are only the tip of the iceberg. A
comparative survey was made of retirement homes: those using the
Time Dollar approach compared with those that didn't. In the
retirement homes using the Time Dollar approach, they found that
using this money knits the group together. People say hello to each
other. When someone has birthday, there is a big party for the entire
home. People look out for each other. There is an informal dinner
once a week. They start a communal garden. In short, community has
been created.
This simple device has changed the way people relate to each other.
People feel that their contributions are rewarded. They feel valued.
One totally unexpected side effect appeared. Participants got
healthier! In Brooklyn, New York, a health insurance company called
Elderplan has decided to accept 25% of the premiums for its senior
health programmes in Time Dollars. Elderplan has even created its
own 'Care Bank' where participants log an average of over a
thousand hours per month. It started as a home repair service by
which potential problems are fixed before they cause accidents. The
Care Bank has as motto: A broken towel rail is a broken hip waiting
to happen.236 For the insurance company, this is clever marketing.
But Elderplan also took these unusual initiatives because it had
noticed that pensioners participating in Time Dollar systems were
experiencing fewer health problems. The bottom line was that their
health care is less expensive for the insurance company. The
Elderplan system is expanding during the year 2000 to include
various boroughs of New York. A special new programme focusing
on diabetics and which includes a major component of self-help is
being launched by the same time bank. The time credits are now also
redeemable against cinema and theatre tickets, transport vouchers,
healthcare products, supermarket and luncheon vouchers throughout
Brooklyn.