The first LETSystem was developed by Michael Linton in Canada's Comox Valley, in 1983, where some people adapted the 'barter' network model and turned it into a full scale community system with greater advantages.

LETSystems began to grow worldwide. Since 1987 some 70 LETSystems have been established in New Zealand and almost 200 in Australia. In Britain the number rocketed from 7 systems in early 1991 to 150 by the end of 1993.

LETS is a concept that is not always easy to understand. The following comments have been gathered from various sources including Michael Linton (the originator of LETS), economists and LETSystem managers in an attempt to explain the philosophies behind LETS.

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