Most people would agree that a successful society is one where economic activity delivers high levels of sustainable wellbeing for its citizens. In this context, wellbeing considers how people feel and function, and how they evaluate their lives. By providing opportunities for social contact and enhancing self-esteem, community currencies can contribute significantly to improving personal wellbeing.
Such projects offer avenues for socialisation and skill-learning to groups who, to varying degrees, may be excluded from the world of work. In these ways currency schemes can help reduce inequalities arising from high demands on service-provision in low-income areas – a strain that might arise because families with lower incomes have fewer resources to meet their own needs. Higher levels of wellbeing are often associated with positive outcomes such as improved physical health.
# Feeling better
Independent evaluation of time-credit schemes run by Spice shows that participants feel fitter, report fewer health problems and visit GPs less often.
In 2014, independent impact assessment of Spice found that: - 65% reported a generally improved quality of life - 45% reported feeling healthier - 19% reported going to the doctor less frequently
These health benefits are likely knock-on effects of significantly increased levels of community engagement, which helps individuals to feel socially valued and empowered.
# See also - Contents - People Powered Money