What praxeology has to say, and what matters as far as the regression theorem is concerned, is that it is logically impossible for any new money to emerge unless there is some sort of existing price structure in place Without prior prices present in some form, actors cannot calculate using the new money And, therefore, if no price ratios have been established monetarily between the various goods and services, they can only be obtained through a process of direct exchange in the barter economy
This is the crux of the regression theorem But there is no praxeological necessity for the new money to be redeemable for the old in law, or to trade at a fixed rate with it.
But an entire local economy has sprung up, and the residents have migrated from the barter economy
to a cash-based system.
m] = 0 we have a barter economy
, where no cash is required for the purchase of a good, whereas when [[phi].
Commodity for commodity or commodity for service was in vogue under the banner of barter economy
He came a cropper, of course: the soul-crushing nature of the factory system--which Ford didn't precisely invent but brought to its apotheosis, for which he was skewered by Aldous Huxley in Brave New World--didn't wear well up the Amazon, and he found it difficult to offer competitive wages in a barter economy
THE credit crunch has forced a barter economy
between major companies, the UK managing director of Jaguar Cars has revealed.
For centuries the Bhutanese relished their isolation, maintaining a barter economy
and allowing few foreigners to visit.
With the rise of extensive trade and later by industrialization, and a money rather than a barter economy
, the ownership of property no longer provided wealth and income.
The authors trace a common thread in all these cultures, that at some point in the growth of a society a barter economy
is no longer feasible and a currency must be created.
By focusing on the setting of the novel--that is, the Great Depression in the South--Rowe describes the barter economy
that developed, the need for sharing food, and the importance of gift giving in the story.
Both adults and children are subjected to slavery-related practices rooted in ancestral master-slave relationships in isolated parts of the country where a barter economy
Last week he held talks with a London-specialist about setting up an international currency exchange to sell 'boothos' on in a bid to create a global barter economy
based on books.
His anarchist Swap Shop (1969), where exchange was based on a barter economy
, teeters on the threshold between art and activism as a social sculpture that prefigures works by artists like Rirkrit Tiravanija and N55.
Because of high inflation, a weak currency and partly because of tradition, Uzbekistan has a cash or barter economy
She describes the uses of a barter economy
and its effect on everyday relationships between families.