Engagement of the elderly in time banking: the potential for social capital generation in an aging society

Abstract

Community currency systems attempt to empower the economically marginalized and build social capital. This research explores the role of the elderly in a local voluntary organization. The elderly are potentially very important contributors, yet we know little about their participation in these local exchange networks. Eighty-seven months' worth of transaction data from a "time bank," which has had a total of 950 members, was examined in social network analyses. Measures of quantitative engagement in the system were constructed. The elderly were found to be as active as other members. Qualitative characteristics of the network were also explored. The organization is rather homogeneous, yet exchanges within it tend to connect diverse actors. Male and female seniors undertransact with themselves and with one another, generating bridging social capital. The evidence presented suggests that the participation of the elderly in local currencies is mutually beneficial.