• Imotali@lemmy.world
    link
    fedilink
    English
    arrow-up
    4
    arrow-down
    1
    ·
    1 year ago

    This “barter” economy as a primary means of exchange never existed. It’s a myth and a lie created by capitalists (actually by one Adam Smith) trying to rationalize the adoption of coinage and currency in ancient civilization.

    In fact barter economies tend to arise predominantly in capitalism during periods of economic instability. Ie: after natural disasters, in war torn countries, etc.

    The proper term you are looking for is “gift economy” and it is how the world worked before capitalism. I want something from you so you gift it to me with the implicit understanding that if in the future the roles are reversed I give something to you of relatively equal perceived value.

    It was actually pretty rare that gifts were paid back in full in one transaction and often larger gifts were paid back through a series of transactions.

    • SCB@lemmy.world
      link
      fedilink
      English
      arrow-up
      5
      arrow-down
      2
      ·
      1 year ago

      TIL that during the 16th to 19th centuries the aristocrats benefited from a “gift economy” because no one who ever says this knows what Mercantilism was.

      • Imotali@lemmy.world
        link
        fedilink
        English
        arrow-up
        1
        ·
        1 year ago

        Where did I mention the 16th or 19th centuries? And mercantilism was 100% not a barter economy. It was a form of market economy controlled by the state… so I’m pretty sure it’s you who misunderstands what mercantilism is.

        • SCB@lemmy.world
          link
          fedilink
          English
          arrow-up
          1
          arrow-down
          1
          ·
          1 year ago

          Mercantilism was purely extractive, and thus completely immoral, I agree. However, trade does predate capitalism because capitalism was not a nominal economic system at the time and mercantilist countries traded with one another.

          • Imotali@lemmy.world
            link
            fedilink
            English
            arrow-up
            1
            arrow-down
            1
            ·
            1 year ago

            Trade is not barter. And if it involved coinage or it isn’t barter. It’s a form of market economy.

            Market Economy ≠ Barter