Fourth Corner Exchange

A A A

DEFINITION

An alternative monetary exchange system based in the Pacific Northwest of the United States. The Fourth Corner Exchange makes use of a time dollar system of exchange that uses units of a person's time as a unit of currency. The Fourth Corner Exchange's official unit of currency is the Life Dollar, which members can accumulate by performing community-based tasks and use in exchange for similar tasks by other members.

INVESTOPEDIA EXPLAINS

Fourth Corner believes that the "traditional money system creates serious social problems, which devastate our local economies by removing money from local communities and transferring it to large corporations and financial centers, leaving the people without a medium of exchange at a local community level."


Additionally the exchange states that "as an alternative monetary system Life Dollars replace the money drained away, allowing the people to continue trading the essentials of life. Fourth Corner Exchange Life Dollars cannot be removed from the communities in which they circulate, because the members issue Life Dollars as and when they need them by trading their goods and services within their communities. This is democratic money."




RELATED TERMS
  1. Capitalism

    A system of economics based on the private ownership of capital and production ...
  2. Socialism

    An economic and political system based on public or collective ownership of ...
  3. Classical Economics

    Classical economics refers to work done by a group of economists in the eighteenth ...
  4. Invisible Hand

    A term coined by economist Adam Smith in his 1776 book "An Inquiry into the ...
  5. Free Enterprise

    An economic system where few restrictions are placed on business activities ...
  6. Electronic Communication Network ...

    An electronic system that attempts to eliminate the role of a third party in ...
  7. Local Exchange Trading Systems

    A locally organized economic organization that allows members to participate ...
  8. Limit Order Information System ...

    An electronic system used by specialists in the stock market. A limit order ...
  9. Manual Trading

    A trading system that involves human decision-making for entering and exiting ...
  10. Self-Help

    A self-help alert is a notification issued by a trading exchange, such as the ...
Related Articles
  1. The Basics Of Money Flow
    Technical Indicators

    The Basics Of Money Flow

  2. Top 7 Questions About Currency Trading ...
    Forex Education

    Top 7 Questions About Currency Trading ...

  3. Getting Started In Forex
    Options & Futures

    Getting Started In Forex

  4. The International Money Market
    Forex Education

    The International Money Market

  5. Has High Frequency Trading Ruined The ...
    Investing News

    Has High Frequency Trading Ruined The ...

comments powered by Disqus
Hot Definitions
  1. XW

    A symbol used to signify that a security is trading ex-warrant. XW is one of many alphabetic qualifiers that act as a shorthand to tell investors key information about a specific security in a stock quote. These qualifiers should not be confused with ticker symbols, some of which, like qualifiers, are just one or two letters.
  2. Quanto Swap

    A swap with varying combinations of interest rate, currency and equity swap features, where payments are based on the movement of two different countries' interest rates. This is also referred to as a differential or "diff" swap.
  3. Genuine Progress Indicator - GPI

    A metric used to measure the economic growth of a country. It is often considered as a replacement to the more well known gross domestic product (GDP) economic indicator. The GPI indicator takes everything the GDP uses into account, but also adds other figures that represent the cost of the negative effects related to economic activity (such as the cost of crime, cost of ozone depletion and cost of resource depletion, among others).
  4. Accelerated Share Repurchase - ASR

    A specific method by which corporations can repurchase outstanding shares of their stock. The accelerated share repurchase (ASR) is usually accomplished by the corporation purchasing shares of its stock from an investment bank. The investment bank borrows the shares from clients or share lenders and sells them to the company.
  5. Microeconomic Pricing Model

    A model of the way prices are set within a market for a given good. According to this model, prices are set based on the balance of supply and demand in the market. In general, profit incentives are said to resemble an "invisible hand" that guides competing participants to an equilibrium price. The demand curve in this model is determined by consumers attempting to maximize their utility, given their budget.
  6. Centralized Market

    A financial market structure that consists of having all orders routed to one central exchange with no other competing market. The quoted prices of the various securities listed on the exchange represent the only price that is available to investors seeking to buy or sell the specific asset.
Trading Center