Search results
Results from the WOW.Com Content Network
'White traders bartering with the Indians' c. 1820. Economic historian Karl Polanyi has argued that where barter is widespread, and cash supplies limited, barter is aided by the use of credit, brokerage, and money as a unit of account (i.e. used to price items). All of these strategies are found in ancient economies including Ptolemaic Egypt.
The coincidence of wants (often known as double coincidence of wants) [1] [2] [verification needed] is an economic phenomenon where two parties each hold an item that the other wants, so they exchange these items directly. Within economics, this has often been presented as the foundation of a bartering economy. [3]
In a barter transaction, one valuable good is exchanged for another of approximately equivalent value. William Stanley Jevons described how a widely accepted medium allows each barter exchange to be split into three difficulties of barter. [19] A medium of exchange is deemed to eliminate the need for a coincidence of wants.
Cash is hard to come by these days. So it's not unusual to see barter arrangements between taxpayers. You've probably even done a little of this yourself: You've designed someone's Web site in ...
A moneyless economy or nonmonetary economy is a system for allocation of goods and services without payment of money. The simplest example is the family household.Other examples include barter economies, gift economies and primitive communism.
Marshall Sahlins, an American cultural anthropologist, identified three main types of reciprocity in his book Stone Age Economics (1972). Gift or generalized reciprocity is the exchange of goods and services without keeping track of their exact value, but often with the expectation that their value will balance out over time.
Economic anthropology is a scholarly field that attempts to explain human economic behavior in its widest historic, geographic and cultural scope. Its origins as a sub-field of anthropology begin with the Polish–British founder of anthropology, Bronisław Malinowski , and his French compatriot, Marcel Mauss , on the nature of gift-giving ...
For premium support please call: 800-290-4726 more ways to reach us