Earlier quoted context omitted.
>> Before we reliably had money, we had barter As far as i know there’s no evidence for this. No historical economy which worked primarily on barter has been discovered. As i understand it, Adam Smith suggested this was the case and it’s now given as rote learning in economics but that historians have never found conclusive proof that this is the case. The wiki entry for barter has this: “No ethnographic studies have…
On the one hand, the proposition is kind of obvious and self-evident - "I'll trade you ${thing you want} for ${thing I want}" is the next step from "I'll beat you up and take ${thing I want} from you", and then basic money is just doing the trade in two steps. On the other hand, single-step trading - that is, barter - gets infeasible as the primary trading model very quickly . Not because of specialization (the "I wa…
As parent suggests, this is a popular misconception. It’s a nice story, but its made up. Upon a more thorough historical analysis, evidence suggests that in fact, money came first. Not barter.
The author makes some solid arguments to support this.