The problem with a "mutual coincidence of wants" system

Posted By on April 21, 2010

Atrios FTW -

All joking aside, there’s a reason we no longer have a barter economy. It’s tremendously inefficient. Transactions require a “mutual coincidence of wants,” meaning I have to have something you actually want to have in exchange for my heart surgery. Many goods are highly indivisible – can’t trade half a live chicken – making precise pricing difficult.

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Writer, part time indie-film maker, musician, wonk and political consultant. Host of The LEFT Show Award winning writer of JMBell.org Former Democratic National Committee Communications Director for Utah. Creative Director for Defenestrate Media Group Award winning host of the late Left of the Dial.

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