Barter System: Past & Present

Barter System

 

A barter system is an old trading technique. This method has been used for centuries and long before money was invented. People exchanged services and goods for other services and goods in exchange. Today, barter has returned using techniques that are more refined to help in trade; for example, the Internet. We can buy items by exchanging an item that we have but that we no longer want or need. In general, trading in this way is done through online auctions and swaps markets. There are even cultures within modern society that still depend on this type of exchange. In most primitive times, this system involved people in the same area, but these days the barter is global.

 

The history of barter goes back to 6000 BC Introduced by the tribes of Mesopotamia, barter was adopted by the Phoenicians. The Phoenicians exchanged goods with those located in other cities across the oceans. The Babylonians also developed an improved barter system. The products were marketed for food items, tea, weapons and flavors. Occasionally, human skulls were used as well. Salt was another well-known thing marketed. The salt was valuable to the point that the payment rates of the Roman soldiers were paid with it.

 

In the Middle Ages, Europeans went everywhere to try specialties and skins in exchange for silks and aromas. The provincial Americans exchanged rifle bullets, deer skins and wheat. At the time the money was developed, the barter did not end, it turned out to be more resolved.

 

Due to lack of money, barter ended up remarkably prominent in the 1930s during the Great Depression. It was used to obtain food and different administrations. It was done through parties or between people who acted as banks. In the event that some things were sold, the owner would obtain credit and the buyer’s registration would be charged.

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