Money and the Monetary System (Classic Reprint) - Softcover

Inhaltsangabe

Excerpt from Money and the Monetary System

Barter has very Obvious economic limita tions. Consider, for instance, the plight Of the shoemaker under such a system. He can have meat for his dinner only when he can find a butcher who will exchange meat directly for shoes. If he needs pins, he can buy them only in lots Of thousands, because he cannot subdivide a pair Of shoes. He cannot readily produce his goods in quantity, because the more he produces the larger will be his mar keting problems. In fact, a man can scarcely become exclusively a shoemaker in a com munity which makes no use of money, nor can there be any other sort Of specialist.

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