However, LETS is not just an economic medium; it is also a social, ethical, and even cultural medium.
While LETS has economic purposes such as stimulation of local economy, establishment of cyclic economy, and prevention of credit creation as well as capital accumulation,
it also has social, ethical, and cultural purposes: to rebuild cooperative and mutual-help human relations based upon the idea of reciprocal exchange,
to bring about trust in region and community, to share values and interests, and to encourage interaction as well as communication.
Thus, in LETS, the economic, the social, the ethical, and the cultural are closely interrelated, which itself embodies the principle of the new economic society.
LETS is a medium of “intercourse” (Verkeer), or a communication medium,
to expand the domain of freedom and rebuild a new space for cooperatives based upon the modern liberalism and individualism.