On a recent spring morning. Susan Alexander, a retired government intelligence analyst, left her Maryland home, climbed into her Volkswagen Passat and drove about three miles to pick up two strangers. She battled rush-hour traffic on the Capital Beltway and George Washington Memorial Parkway before dropping them off at Reagan National Airport. She didn't earn a cent for her trouble, and that was the point.
Alexander is a member of the Silver Spring Time Bank— one of more than 100 such exchanges around the world trying to build community by exchanging time credits for services instead of dollars and cents. "I have time," she said. "I like giving the gift of time to other people."
In Alexander's case, passengers Mary and Al Liepold were grateful for the ride, but it wasn't charity. Mary, a retired writer and editor for nonprofit organizations, used time credits she banked for editing work and baking. Senior citizens who don't drive, the Liepolds cashed in their credits to catch a flight to Montreal for a five-day vacation.
Without money changing hands or shifting between virtual accounts, the airport drop-off was more like a coffee party than a taxi ride. Driver and passengers chatted about projects they've completed for the time bank, and no one raised an eyebrow when Mary said she likes "to avoid the conventional economy."
"The beauty of this is that you make friends," Mary Liepold said. "You don't just get services."
The Silver Spring Time Bank formed in 2015 and has about 300 members, said co-founder Mary Murphy. Last year, she said, l,000 hours were exchanged for basic home repairs, dog walking, cooking and tailoring, among other services, without the exchange of money." You get to save that money that you would have spent," she said. "You get to meet somebody else in your community and get to know that person. That's a bonus that's part of an exchange."
A deal performed partly to make friends would seem to go against classical economics and one of Benjamin Franklin's most memorable sayings: "Time is money." To those at the forefront of modern time-banking, that is the appeal.
