The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd


  • Keith Hart
Reference work entry


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.


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

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Keith Hart
    • 1
  1. 1.