Re: barter system

From: zerge (zerge_at_hotmail.com)
Date: 08/07/04 

Date: 6 Aug 2004 22:56:31 -0700

kevindotcar@yahoo.com (kevincar) wrote in message news:<60bf9d3f.0407281138.51ae9fdd@posting.google.com>...
> 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

Could you kindly explain the "a way to bilaterally value bartered
items" part?
I would think that's not difficult at all, or is it? I mean, if I can
produce commodity A, and you can produce commodity B, the exchange
value will be proportional to how much you want my commodity and
viceversa, AND what my opportunity cost of creating your commodity
would be, and viceversa. No?

Relevant Pages

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