Caroline Humphrey
Quotes From
“Barter and Economic Disintegration” (1985)
- Barter in the present world is, in the vast majority of cases, a post-monetary phenomenon (i.e. it coexists with money), and that it characterises economies which are, or have become, de-coupled from monetary markets.#
- Delayed barter could only exist generally in face-to-face communities in which every exchange partner has knowledge about others such that he can trust payment to be made for items given. #
Posts About
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Money and its Institutional Substitutes: The Role of Exchange Institutions in Human Cooperation
This paper offers an increasing returns model of the evolution of exchange institutions building on Smith’s dictum that “the division of labor is limited by the extent of the market”. Exchange institutions are characterized by a tradeoff between fixed and marginal costs: the effort necessary to execute an exchange may . . .