Babysitter couple bang the4/11/2024 ![]() The administration's initial reaction to the co-op's recession was to add new rules. This illustrates the phenomenon known as the paradox of thrift. As a result, the co-op fell into a " recession". Since babysitting opportunities only arise when other couples want to go out, there was a shortage of demand for babysitting. So they babysat whenever the opportunity arose, but did not spend the scrip they acquired. Īt first, new members of the co-op felt, on average, that they should save more scrip before they began spending. Some of the administration's scrip went to administrators to be spent and some was simply saved. To "pay" for the administrative costs of the system, each member had an obligation to contribute fourteen hours' worth of scrip a year (i.e. Administrators in the co-op were responsible for various tasks, such as matching couples needing a babysitter with couples that wanted to babysit. To earn more scrip, couples babysat other member's children. Each piece of scrip was contractually deemed to pay for half an hour of babysitting. Members of the co-op used scrip to pay for babysitting. The co-op gave each new member twenty hours' worth of " scrip," and required them to return the same amount when they left the co-op. You would sell your children for scrip."Ĭooperative system and history The co-op issued scrip, each piece was worth half an hour of babysitting time. The currency issued by the co-op, called scrip, was in extremely high demand, at least at some points, with a former member being quoted as saying "Oh my God, you would kill for scrip.Time-and-a-half was paid for later hours.Double time was paid after midnight and between 5 pm and 7 pm (during supper time).This was seen as an onerous task, which is why it was rotated, and entailed taking babysitting requests, matching sitters with requests (hence being on call at all times), and balancing the books. In the 1960s the position of secretary rotated monthly.By the early 1970s the co-op was geographically split in two-north/south or east/west.The co-op grew from 20 families in the early 1960s to more than 200 in the early 1970s.The organization is modeled after Beacon Hill Village in Beacon Hill, Boston, and while it involves elements of mutualism, it is dues-paying and involves external parties. In 2007, a number of the now elderly former co-op members from the 1960s and 1970s were involved in founding the Capitol Hill Village, an organization dedicated to helping elderly people continue living at home by providing a support community. Members naturally left the co-op as their children grew up, but many continued to work together in various organizations. Some of these are second-generation members of the co-op. In 2010, there were twenty families in the co-op (down from its heyday of 250 families). The co-op was founded in the late 1950s, and as of 2017 continues to operate. ![]() Krugman has described the allegory as "a favorite parable" and "life-changing". The allegory has received continuing attention, particularly in the wake of the late-2000s recession.įormer members Joan Sweeney and Richard James Sweeney first presented the co-op as an allegory for an economy in a 1977 article, but it was little known until popularized by Paul Krugman in his book Peddling Prosperity and subsequent writings. The allegory illustrates several economic concepts, including the paradox of thrift and the importance of the money supply to an economy's well-being. The co-op is often used as an allegory for a demand-oriented model of an economy. ![]() The Capitol Hill Babysitting Cooperative (CHBC) is a cooperative located in Washington, D.C., whose purpose is to fairly distribute the responsibility of babysitting between its members. 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