Glossary

advertising—calling something to the attention of the public through paid announcements as a way to increase sales of a product or service

afford—someone’s ability to pay for something relative to the price of it

barter—to exchange things (such as products or services) for other things instead of money

bonded labor—a person’s pledge of their labor or services as security for the repayment for a debt or other obligation

book exchange—place where books are traded or swapped for other books at no charge

child labor—employment of children that is mentally, emotionally or physically harmful and interferes with childhood and regular attendance at school

collaborative consumption—the sharing of resources and access to goods and services rather than individual ownership, often coordinated through community-based online services

Communism—a system of government in which private property is eliminated and money, food and resources are divided equally between citizens

consumerism—a belief that it is good for people to spend lots of money on goods and services

credit—money that a bank or business will allow a person to use and then pay back in the future

currency—objects that represent how much something else is worth, such as coins, paper bills, plastic cards, or cowry shells

environmental movement—an organized effort to address issues that affect the health of the planet, through sustainable management of resources and stewardship of the environment

Freeconomy movement—a movement aimed at creating a money-less economy, based on developing good relationships within a community that trades services and goods instead

Human Library—a place where real people are on loan to readers for shared dialogue as a way to challenge stereotypes and prejudices through conversation

Industrial Revolution—the transition to new manufacturing processes that involved replacing human labor with machines (from 1760 to sometime between 1820 and 1840)

invest—to commit money to something to earn a greater return in the future

loan—an amount of money given to someone with the promise that it is to be paid back

microloan—a very small loan (sometimes as little as twenty dollars) typically to help finance a small project by someone living in poverty to help them earn money

modern slavery—the system of human exploitation that continues today as a way to make a profit off of the victimization of impoverished people, often women and children

nomad—a member of a group of people who move from place to place instead of living in one place all the time

planned obsolescence—designing something that will become unfashionable or will break within a short amount of time

pollute—the act of making land, water or air dirty and not safe to use

possessions—anything a person owns

poverty—the state of being poor, or lacking something essential for a person’s health or well-being

profit—money left over after all expenses have been paid

renting—to pay money in return for being able to use something that belongs to someone else

shares—small equal portions that a company is divided into and owned by multiple shareholders

stock market—the system for buying and selling shares of a company

sustainable—methods that allow natural resources to last a long time without being destroyed

sweat equity—someone’s contribution to a project in the form of effort and work, as opposed to paying others to perform the task

time bank—a way of sharing skills and time instead of money as a way to build supportive networks and strong communities

volunteer—a person who does work without getting paid to do it

wealth—large amount of money and possessions; originally from the Old English word meaning a person’s “health and well-being”

yard sharing—a local food and urban farming arrangement where a landowner allows a gardener access to land, typically a front or back yard, in order to grow food