Has the barter theory of the origins of money been rejected?

Georgy Ganev

MPRA Paper from University Library of Munich, Germany

Abstract: No, the original barter theory of the origins of money (“the barter story” for short) has not been rejected. What has been rejected is a narrowly specific, and apparently parentless, version of the barter story based on the standard neoclassical synthesis modelling assumptions of homo œconomicus and fully-fledged market economies. As in all other myths, the myth of the rejection of the barter story contains a grain of truth, namely, that the actually lived human communities are much more complex and nuanced than assumed by the standard neoclassical synthesis economics rendition of the story. These grains of truth, as valuable and helpful as they can be for the improvement of economics, cannot change the conclusion that the original barter story remains standing.

Keywords: barter; money; origins of money (search for similar items in EconPapers)
JEL-codes: A12 B15 B29 E49 N10 (search for similar items in EconPapers)
Date: 2025-01-31, Revised 2025-03-15
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Published in Bulgarian economic papers 2025-02 (2025): pp. 1-26

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