Local Currency Aims to Books Philadelphia's Local Economy

hOURS is a local currency in Philadelphia that was started last year. hOURS is looking for small business owners and individuals to participate in this socially, environmentally, and economically progressive system of trade.

(PRWEB) March 9, 2004 --Fred Kittelmann has a vision to provide Philadelphia with an alternative system of trade that is socially, environmentally, and economically progressive. Last year, he started a local currency called hOURS, which stands for helluva Organized United Reciprocation System." Since then, over 100 people have joined, sharing their skills in a variety of areas including catering, psychotherapy, tutoring, babysitting, writing, gardening, and office assistance.

Similar to Ithaca Hours, hOURS is an alternative local currency that people can use to exchange goods and services with other participants. hOURS is a "mutual credit" trading system that builds community and encourages people to share resources locally. But unlike other local currencies, hOURS is egalitarian in nature; all people's work is valued the same - by the time spent working. hOURS is free and open to everyone.

Here's how it works: individuals register with hOURS and list the goods or services they would like to offer, as well as goods or services that they need. Participants with common offerings/needs exchange the goods or services, paying with hOURS rather than US Currency. The provider's account is credited with the number of actual hours they spent providing services, which they can then use to obtain services from another hOURS participant. hOURS can also be spent before they are earned, which stimulates use of the system. CASHours are used as a medium of exchange for physical goods, since they can not be directly translated into a time value.

Nonprofit organizations can also participate in hOURS. Participants can donate their hOURS to local nonprofit organizations, which can use hOURS to obtain goods or services to further their missions.

The success of hOURS depends on the participation of people who live and work in Philadelphia. To join hOURS or for more information, contact Fred Kittelmann at (215) 551-1490 or H_OURS@yahoo.com. Visit hOURS online at www.hoursystem.net.