Direct exchange

From Mises Wiki, the global repository of classical-liberal thought
(Redirected from Barter)
Jump to: navigation, search

Direct exchange is the trading of goods for goods (barter), goods for services ("truck system"), or services of one kind for services of another kind without the intermediary use of money or any other medium of exchange. Direct exchange contrasts with indirect exchange which involves the use of a medium of exchange, usually money, in a two step process of sale and purchase in order to obtain the desired goods or services.[1] There is some controversy as to whether, or how much, barter was actually prevalent in prehistoric times.[2]


  1. Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-07-01.
  2. "Barter in Prehistoric Times" by Franz Oppenheimer, February 15, 2012