I caught part of a PBS documentary on the local currency that is being used in Ithaca, New York. Now in its tenth year, the Ithaca Hours program is like a barter system, but with its own currency. Founder Paul Glover began Ithaca’s local currency program during the 1991 recession to boost community spirit and keep dollars in a local economy. Now you can use Ithaca Hours to pay for almost anything, or at least as part of your payment. The local Ben & Jerry’s even accepts Hours for full payment. Other communities have taken heed and started their own systems. There’s Berkeley Bread, Brooklyn Greenbacks, and many others, even in other countries. What does the IRS think of the barter system? Not a surprise, it’s still taxable income. You have to wonder how much of it actually gets reported, though.