Bioregional Economics: the Informal Economy, with a Case Study of the Local Exchange and Trading System

Beginning with a look at the philosophical principles behind bioregional economics, this paper goes on to provide a critique of capitalism before moving into a discussion of the informal economy as compared with the conventional economy. As one of the many activities within the informal economy, LETSystems are a locally-supported and directed strategy for sustainable community development.  The author looks at the beginnings of the LETSystems on Vancouver Island in 1983, moves into an analysis of how such a system of barter and trading can regenerate a local economy, and provides a look at some of the potential obstacles to its success.  Finally, the paper addresses the possibilities of such a system working within Haliburton County and proposes recommendations for further research.