Time-based currency
alternative currency whose unit of account is a measure of time
In economics, a time-based currency is an alternative currency or exchange system where the unit of account is the person-hour or some other time unit. Some time-based currencies value everyone's contributions equally: one hour equals one service credit. In these systems, one person volunteers to work for an hour for another person; thus, they are credited with one hour, which they can redeem for an hour of service from another volunteer. Others use time units that might be fractions of an hour (e.g. minutes, ten minutes – 6 units/hour, or 15 minutes – 4 units/hour). While most time-based exchange systems are service exchanges in that most exchange involves the provision of services that can be measured in a time unit, it is also possible to exchange goods by 'pricing' them in terms of the average national hourly wage rate (e.g. if the average hourly rate is $20/hour, then a commodity valued at $20 in the national currency would be equivalent to 1 hour).
History
19th century
Time-based currency exchanges date back to the early 19th century.
The Cincinnati Time Store (1827–1830) was the first in a series of retail stores created by American individualist anarchist Josiah Warren to test his economic labor theory of value. The experimental store operated from May 18, 1827, until May 1830.
This brief starts where responsible research should: with the source description of “Time-based currency” as alternative currency whose unit of account is a measure of time. Everything that follows is an evidence route, not borrowed authority.
Why this record matters
The subject matters to the general reference register because the source frames it as alternative currency whose unit of account is a measure of time. Its deeper value depends on whether names, dates, institutions and citations support that framing.
Named sources, stable identifiers and responsible institutions provide the strongest route from overview to verifiable evidence. The source revision retrieved here is dated Jun 29, 2026. The linked authority identifier is Q185877. The Library of Congress control number is sh2016000125. 1 of 1 selected statements include explicit references; 0 carry qualifiers and 0 use preferred rank. The first chronological checks are 1827 and 1830.
The absence of detail may reflect summary conventions rather than a lack of surviving documentation. The source lead contains qualifying language; that uncertainty should survive quotation, summary and reuse. Authority statements aid reconciliation but still require their own references, qualifiers and ranks to be checked.
How to read it
Use the entry as an orientation point, then follow its citations and revision history. Names, dates and institutional relationships should be checked against the original record.
- Subject orientation
- Search vocabulary
- Locating named sources
The closest primary source, responsible institution and strongest cited specialist reference.
Three-step research path
- Establish the record: confirm the title “Time-based currency”, its source revision and the description used here.
- Expand the search: follow Time-based currency primary sources, Time-based currency archive and Time-based research across catalogues and specialist indexes.
- Test the account: compare the strongest cited source with the responsible institution’s current record and note any disagreement.
Questions for further research
- Which source most directly establishes the central claim about “Time-based currency”?
- Which institution is responsible for the underlying evidence?
- Which cited source is closest to the event, object or claim?
Search terms from this dossier
This entry incorporates text from “Time-based currency” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.