Barter Continues to Compete with Money as a Viable Form of Currency in a Modern Age

Barter Continues to Compete with Money as a Viable Form of Currency in a Modern Age In today’s economy, barter is considered by many individuals and businesses alike, to be the new cash. Los Angeles, CA – November 18, 2014 /MM-LC/ — Investopedia states: “Money, in and of itself, is nothing. It can be a shell, a metal coin, or a piece of paper…  The value that people place on it has nothing to do with the physical value of the money. Money derives its value by being a medium of exchange, a unit of measurement and a storehouse for wealth. Money allows people to trade goods and services indirectly,.. and provides a way to save for larger purchases in the future.” Unlike today, money was not always the normal, everyday currency of America.  A year before enactment of the U.S. Constitution, an angry mob in New Hampshire marched on the state assembly demanding that the state print paper money to enable the state’s debtors to pay off their creditors and be rid of them. The creditors then fled the state to avoid payment. If caught, they were forced at the point of a gun to acknowledge payment in full. Long before money, there was barter.  “Bartering is a direct trade of goods and services – Here’s a stone ax in exchange for help killing this mammoth – but such arrangements take time. The premise was to find someone who thinks an axe is a fair trade for having to face the 12-foot tusks on a beast that doesn’t take kindly to being hunted. If that didn’t work, an individual...