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Local Exchange and Trading Systems: A New Source of Work and Credit for the Poor and Unemployed?

In this paper the aim is to evaluate critically the potential of local exchange and trading systems (LETS) as a new source of work and credit for the poor and unemployed. LETS are local associations whose members list their offers of and requests for goods and services in a directory and then exchange them priced in a local unit of currency. From the results of a national survey of LETS, it is found that LETS are growing rapidly and that a high proportion of the national membership are poor and unemployed. With use of a membership survey of Manchester LETS, it is then revealed that, although the poor and unemployed are capitalising on LETS to gain access to work and credit, it is utilised mainly by what can be called the ‘disenfranchised middle class’. In this paper it is advocated that, for a wider cross-section of the poor and unemployed to become involved, changes are needed not only in the internal operating environment of LETS but also in the approach of the government towards benefit claimants working on such systems.