Re: barter system

From: kevincar (kevindotcar_at_yahoo.com)
Date: 07/28/04 

Date: 28 Jul 2004 12:38:37 -0700

olivier.chaussavoine@online.fr (olivier) wrote in message news:<8d904c28.0407280607.2cdbe8f3@posting.google.com>...
> I though you could be interested by this paper which describes a
> system that allows value exchange among a set of economic actors. It's
> originality is that no common reference of value has to be agreed
> between these actors. That way, it allows economic exchange without
> any monetary tools.
>
> A commitment is a two party agreement whose economic value is
> determined by two quantities. One quantity is the value of the
> commitment expressed using the unit of one party, the other expresses
> the same value using the unit of the other party. The unit can be a
> worked hours, a pound of wheat or a shell.
>
 [---]

Okay, I'm just coming out with it here; Im pretty sure you
mean well and are sincerely looking for feedback and all,
and God help you if Kent goes on a tear after reading your
web page.

When you say
  "...It's originality is that no common reference of
   value has to be agreed between these actors..."

you do not give a satisfactory explanation of
removing it- To me, it sounds like you're just ignoring it.

Specifically, in your paper, how do the parties determine the
value of the goods being bartered? For instance, J
offers 3 Kg of wheat for 5 hours of time from B- Fair
enough, but how do the two of them agree on FMV of B's time?

Dude, you could get a Ph. D in just that subject... It's called
"marketing" - getting the most profit per unit of economic
effort.

I personally think your time would be better spent
ignoring the bartering aspect because it's a pretty common
understanding that people will seek out the most optimal trade
(the perfect market v. imperfect market hypothesis)- If you
truly came out with a way to bilaterally value bartered items,
it would be revolutionary... to my knowledge everything
historically has failed... From David Ricardo (c. 1776) to
U.S. Government SIC codes.

Later,
K.C

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