Fourth Corner Exchange

AAA

DEFINITION of 'Fourth Corner Exchange'

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 Exchange'

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 ...
  2. Socialism

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

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

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

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

    An electronic system that attempts to eliminate the role of a ...
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

Hot Definitions
  1. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  2. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  3. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  4. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  5. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  6. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
Trading Center