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LETS:AN ECO-SOCIALIST INITIATIVE
Local Exchange Trading Systems (lets) have been welcomed by many as a possible solution to the poverty, disempowerment and social exclusion suffered by the unemployed, as a practical and inexpensive stimulus for local economic regeneration, as the basis for stable, sustainable, and self-reliant community economies, and as a valuable complement to an increasingly over-stretched welfare state.  Given better publicity, financial backing, and government and local authority support, it is thought that lets could significantly improve the quality of life for the residents of low-income neighbourhoods.  This essay evaluates the economic, social and ecological merits of lets, assesses the theoretical positions that have been developed in their defence, and proposes a path for their future development.
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