1.Jump up ^ O'Sullivan, Arthur; Steven M. Sheffrin (2003). Economics: Principles in Action. Pearson Prentice Hall. p. 243. ISBN 0-13-063085-3. 2.^ Jump up to: a b Graeber, David (2011). Debt: the first 5,000 years. New York: Melville House. pp. 21–41. 3.Jump up ^ Humphrey, Caroline (1985). "Barter and Economic Disintegration". Man 20 (1): 49. 4.^ Jump up to: a b Humphrey, Caroline (1985). "Barter and Economic Disintegration". Man 20 (1): 48. 5.Jump up ^ Humphrey, Carolyn and Stephen Hugh-Jones (ed.). Barter, Exchange and Value: An Anthropological Approach. Cambridge: Cambridge University Press. p. 3. 6.Jump up ^ Graeber, David (2001). Toward an Anthropological Theory of Value: The False Coin of our Dreams. New York: Palgrave. p. 154. 7.Jump up ^ Graeber, David (2011). Debt: the first 5,000 years. New York: Melville House. pp. 40–41. 8.Jump up ^ Graeber, David (2001). Toward an Anthropological Theory of Value: The false coin of our own dreams. New York: Palgrave. pp. 153–4. 9.Jump up ^ Graeber, David (2011). Debt: The First 5,000 Years. Brooklyn, NY: Melville House. pp. 94–102. 10.Jump up ^ Robert E. Wright and Vincenzo Quadrini. Money and Banking.Chapter 3, Section 1: Of Love, Money, and Transactional Efficiency Accessed June 29, 2012 11.Jump up ^ Humphrey, Caroline (1985). "Barter and Economic Disintegration". Man 20 (1): 66–7. 12.Jump up ^ Plattner, Stuart (1989). Plattner, Stuart, ed. Economic Anthropology. Stanford, CA: Stanford University Press. p. 179. 13.Jump up ^ M. Bloch, J. Parry (1989). Money and the Morality of Exchange. Cambridge: Cambridge University Press. p. 10. 14.Jump up ^ Humphrey, Caroline (1985). "Barter and Economic Disintegration". Man 20 (1): 52. 15.Jump up ^ Polanyi, Karl (1957). Polanyi, Karl et al, ed. Trade and Market in Early Empires. Glencoe, Illinois: The Free Press. p. 14. 16.Jump up ^ Harrison, John (1969). Quest for the New Moral World: Robert Owen and the Owenites in Britain and America. New York: Charles Scibners Sons. p. 72. 17.Jump up ^ Harrison, John (1969). Quest for the New Moral World: Robert Owen and the Owenites in Britain and America. New York: Charles Scibners Sons. p. 73. 18.Jump up ^ Harrison, John (1969). Quest for the New Moral World: Robert Owen and the Owenites in Britain and America. New York: Charles Scibners Sons. pp. 202–4. 19.Jump up ^ Tadayuki Tsushima, Understanding “Labor Certificates” on the Basis of the Theory of Value, 1956 20.Jump up ^ Homenatge A Catalunya II (Motion Picture). Spain, Catalonia: IN3, Universita Oberta de Catalunya, Creative Commons Licence. 2010. Retrieved January–2011. "A documentary, a research, a story of stories about the construction of a sustainable, solidarity economics and decentralized weaving nets that overcome the individualization and the hierarchical division of the work, 2011." 21.Jump up ^ Barcelona's barter markets (from faircompanies.com. Accessed 2009-06-29.) 22.Jump up ^ "What is LETS?". AshevilleLETS. Retrieved December 9, 2008. 23.Jump up ^ TIMES, nov. 2009 24.Jump up ^ David M. Gross, ed. (2008). We Won’t Pay: A Tax Resistance Reader. pp. 437–440. 25.Jump up ^ Tax Topics - Topic 420 Bartering Income. United States Internal Revenue Service
Then again, it’s one thing to keep a community alive and well when everyone’s camping in a forest and they’ve all opted in to that vision. It’s quite another to imagine a gift economy enabling humans to build skyscrapers, invent iPhones, put air conditioners in every house, and explore space. (The same goes for collecting taxes and running large businesses.) Not that it’s an all-or-nothing situation: We already have gift economies among friends and family. Perhaps expanding that within small communities is possible; it’s certainly desirable.
Adam Smith, the father of modern economics, sought to demonstrate that markets (and economies) pre-existed the state, and hence should be free of government regulation[citation needed]. He argued (against conventional wisdom) that money was not the creation of governments. Markets emerged, in his view, out of the division of labour, by which individuals began to specialize in specific crafts and hence had to depend on others for subsistence goods. These goods were first exchanged by barter. Specialization depended on trade, but was hindered by the "double coincidence of wants" which barter requires, i.e., for the exchange to occur, each participant must want what the other has. To complete this hypothetical history, craftsmen would stockpile one particular good, be it salt or metal, that they thought no one would refuse. This is the origin of money according to Smith. Money, as a universally desired medium of exchange, allows each half of the transaction to be separated.[3]
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Then again, it’s one thing to keep a community alive and well when everyone’s camping in a forest and they’ve all opted in to that vision. It’s quite another to imagine a gift economy enabling humans to build skyscrapers, invent iPhones, put air conditioners in every house, and explore space. (The same goes for collecting taxes and running large businesses.) Not that it’s an all-or-nothing situation: We already have gift economies among friends and family. Perhaps expanding that within small communities is possible; it’s certainly desirable.


In a small economy where individuals specialize in trades, they may find the process of setting up a centralized currency and maintaining it an unnecessary burden in order to trade. One option may be to use a commodity to exchange value between parties that want to trade goods or services and this is why gold and silver have been useful forms of currency in many cultures and times. Another option may be to use a barter system to trade.
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