Photo © heconomist.ch
In 1833, Robert Owen, an English utopian and sociologist, released his own money with par values in working hours. He saw how businessmen make profit, giving out wages in money, subject to inflation, on working people.
So Robert Owen hoped to transfer their wages on a fair basis. But, unfortunately, nothing happened.
The labor exchanges went bankrupt, and Owen went bust 2,000 pounds. But his banknotes are now very much appreciated.