LET’s start new a LETS: Learning from a case-study investigation in Brno, Czech Republic

Abstract

This paper brings information about the operation of RozLEŤSe, a LETS (Local Exchange Trading System) network, based inBrno. LETS are parallel sustainable monetary systems, in which local community networks attempt to extricate themselves from the international economy by using their own currency. LETS is supposed to promote sustainable development by localising economic development. Although, there used to be several LETS group in the Czech Republic, all of them vanished during the first few years of the new millennium.  RozLEŤSe was built from the remains of former LETS groups. Hence, the aim of this study is to determine possible threats to the future existence of the group and evaluate its current operations. This research is a sociological case study investigation examining the socio-demographic characteristics, motivations and organisational functioning of the group. We point out some serious threats to the group (lack of supply, growth in negative credit, decrease in trust) and offer possible solutions.