Researchers Dr David Mackay, Darren McGuire and Knut Laaser of the Department of Management have undertaken a feasibility study into a new Local Exchange Trading System, in Govan. LETS is an umbrella term representing a range of organised local exchange and trading activities of members; where individuals exchange services, goods and social activities and support.
The study reveals a new LETS is a development endorsed by community actors, institutions and policy makers. Throughout the fieldwork the research team talked to a diverse group of community members and professionals – and understood that a LETS could act as an economic and social shield in times of economic austerity for groups that experience social isolation.
Speaking about the study, the researchers suggested that, "A carefully tailored LETS is something that could be a local response to the retreat of the welfare state. People receive recognition for their skills – which are tailored towards their interests and what's missing in the community. It would be beneficial for the community because at the heart of LETS is the idea that people facilitate an alternate form of community organising – in safe and encouraging environments. We think our study has policy implications too – as a new LETS may help to build the skills and confidence to enter the workplace".
The research was funded by innovation vouchers from the Scottish Funding Council, and received a positive response, kicking off wider debates within the Govan community about the possibility of launching a LETS.
Speaking about the report of the study, Marketing Manager of C-change, Sheryl Walker said, "I found the content of it very informative, where the findings clearly demonstrate the potential for the development of a community based project, however outlining the barriers/challenges at the same time."
The study is one of a range of positive developments between the department and C-change, who are currently looking into further knowledge exchange opportunities and student projects.