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token economy
noun
, Psychiatry.
- a method of encouraging desirable behavior, especially in a hospital setting, by offering rewards of token money that can be exchanged for special food, access to television, and other bonuses.
token economy
noun
- a type of psychotherapy in which the inmates of an institution are rewarded for good behaviour with tokens that can be exchanged for privileges
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Word History and Origins
Origin of token economy1
First recorded in 1965–70
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Example Sentences
There are bright spots in the token economy, including Tezos, which raised over $200 million in 2017 and, despite early controversies, has built a popular network for smart contracts.
From Fortune
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