The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Barter

  • Keith Hart
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_670

Abstract

Barter is a simultaneous exchange of commodities, whether goods or labour services, with bargaining and without using money. It is thus a form of trade in which credit is absent or weak, where buyers and sellers compete and rates are not fixed, and which lacks an abstract measure of value in exchange or payment.

Keywords

Aristotle Bargaining Barter Division of labour Exchange Gift-exchange Money Plato 

JEL Classifications

D0 
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Bibliography

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  6. Smith, A. 1776. In An inquiry into the nature and causes of the wealth of nations, ed. E. Cannan, 1937. New York: The Modern Library.Google Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Keith Hart
    • 1
  1. 1.