Zona de identificação
Tipo de entidade
Forma autorizada do nome
Equitable Labour Exchange
Forma(s) paralela(s) de nome
Formas normalizadas do nome de acordo com outras regras
Outra(s) forma(s) de nome
identificadores para entidades coletivas
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Datas de existência
Histórico
In September 1832 socialist reformer Robert Owen, famed for the model community at the New Lanark mills, opened the Equitable Labour Exchange on Grays Inn Road. The Exchange used a new currency which was based on labour. Workers could exchange goods for notes according to the time they had taken to make the goods. The notes were measured in hours. The notes could then be exchanged for goods of equal 'time value'. Problems soon arose with the system, partly because the assessors over-valued goods, and because tradesmen would bring in low quality items, trade them for notes, trade these for high-quality goods, and sell these goods at a profit. The Exchange closed in 1834.