How do people value goods and services within a LETSystem?

As LETS uses a philosophy of “time” and “energy” and each members time is equally valuable, Sydney LETS suggests a base rate of 35 operas per hour regardless of skilled or non skilled labour. In this way activities which are traditionally low-paid tend to be rewarded more generously. As there is never an obligation to trade, if you consider the market value to be too high or too low you can decline to trade. By using a ‘local currency’ that is abundant, people are able to value each other’s time, skills and energy more appropriately.