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A Writer's Dictionary:

LETS Definition


Dictionary Home » Words Starting with L » let something off ... levigated » LETS


LETS
abbreviation
    1. Local Exchange Trading System, a system of sharing skills and resources with a local nominal currency counted in units, named after a local feature such as bobbins in Manchester and reekies in Edinburgh. It can be used to purchase services of any type, ranging from baby-sitting and dog-walking to catering, computer training, business services, bricklaying, etc.
Etymology: 1980s: pioneered by Scottish-born Canadian Michael Linton as a way to stimulate local economies and counter unemployment.



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