The Myth of the Barter Economy

3/10/2016

This article challenges the idea of a barter-based society as a precursor to the modern monetary system. It argues that the common narrative of early humans engaged in direct barter before the invention of money is a myth. The author explains that historical evidence and anthropological research do not support the notion that barter was a widespread or efficient system of trade. Instead, the article suggests that various forms of credit and debt, as well as social obligations and mutual cooperation, played a more significant role in early economic transactions. The author concludes that the idea of a barter-based society is largely a construct that simplifies and misunderstands the complexities of human economic behavior throughout history.

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