Barter in the US economy:a macroeconomic analysis

Marvasti, Akbar; Smyth, David J.

doi:10.1080/000368498325246

Cited by 11 publications

(9 citation statements)

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“…Others have used it as a case study for analysing currency behaviours (Rogojanu and Badea, 2014) or as a way of observing regulators from an economics standpoint (Sauer, 2015). Prior to such studies, economists have studied commercial barter or countertrade, from a macroeconomic perspective on addressing liquidity problems (Marvasti and Smyth, 1998;Yavas and Freed, 2001), something this paper engages with, in the context of SMEs and microentrepreneurs. One recent study shows how Sardex in Italy has helped keep hundreds of businesses from growing bankrupt during the great recession (Lucarelli and Gobbi, 2016).…”

Section: Relevant Research On Complementary Currenciesmentioning

confidence: 99%

Small Business Social Responsibility: More than Size

Bendell¹

2017

Journal of Corporate Citizenship

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B e n d ell, Je m (2 0 1 7) C u r r e n cy in n ov a tio n fo r s u s t ai n a bl e fin a n ci n g of S M E s: c o n t ex t, c a s e s t u dy a n d s c al a bility. Jou r n al of Co r p o r a t e Citiz e n s hi p, 2 0 1 7 (6 7). p p. 3 9-6 2. Do w nlo a d e d fro m: h t t p://i n si g h t. c u m b ri a. a c. u k/i d/ e p ri n t/ 3 0 7 0/ U s a g e o f a n y i t e m s f r o m t h e U n i v e r s i t y o f C u m b r i a' s i n s t i t u t i o n a l r e p o s i t o r y 'I n s i g h t' m u s t c o n f o r m t o t h e f o l l o w i n g f a i r u s a g e g u i d e l i n e s .Any it e m a n d it s a s s o ci a t e d m e t a d a t a h el d in t h e U niv e r si ty of C u m b ri a 's in s ti t u tio n al r e p o si t o ry In si g h t (u nl e s s s t a t e d o t h e r wi s e o n t h e m e t a d a t a r e c o r d) m a y b e c o pi e d, di s pl ay e d o r p e rfo r m e d, a n d s t o r e d in lin e wi t h t h e JISC fai r d e ali n g g ui d eli n e s (av ail a bl e h e r e ) for e d u c a tio n al a n d n o t-fo r-p r ofit a c tiviti e s AbstractThe purpose of this paper is to introduce the topic of complementary currencies to the academy engaged in research on corporate responsibility and responsible finance, as well as the broader field of progressive management studies. It responds to the growing awareness that both managers and researchers need to address a systemic challenge of our time, concerning stagnating economies and growing inequality. An underlying cause of that problem is identified as mainstream monetary systems and the implications for inadequate financing of SMEs and microenterprises. The potential of currency innovation, from cryptographic currencies like Bitcoin, to local currencies and then to commercial barter and countertrade are discussed. Given the novelty of these phenomena for management studies in general and corporate responsibility in particular, an interdisciplinary literature review is presented. Then a case study of a complementary currency in an informal settlement in Kenya is presented and implications for the wider adoption of useful new currencies discussed. It concludes therefore that SMEs need certain types of complementary currency more than others and proposes that companies can engage in currencies as part of their corporate responsibility programmes as well as for direct business benefit.

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Section: Relevant Research On Complementary Currenciesmentioning

confidence: 99%

Small Business Social Responsibility: More than Size

Bendell¹

2017

Journal of Corporate Citizenship

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“…By 1996, the number of companies grew to 390 with approximately 400,000 clients. Barter exchange data are presented in graphs and fully discussed in Marvasti and Smyth (1998). The nominal GDP (in billions) and the GDP Implicit Price Deflator (1987 = 100) are from the US Commerce Department.…”

Section:      mentioning

confidence: 99%

“…An earlier statistical analysis of transactions among barter exchanges in the USA has revealed that accumulation of business inventories and rising prices are primary motives for barter. Tax evasion, on the other hand, receives only a partial support(Marvasti & Smyth, 1998). This source also contains detailed discussions on Barter Exchanges.…”

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confidence: 99%

Barter's Role in the Money–income Relationship

Marvasti

Smyth

2006

Pacific Economic Review

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This paper deals with a reassessment of the money-income relation and predictability of changes in GDP with innovations in money in the presence of barter. Organized barter as a method of transaction, through barter exchanges, has been growing rapidly in the US economy. With the introduction of computers and the use of a credit system which allows non-simultaneous transactions, barter exchanges have found new opportunities to offer an alternative to monetary transactions. Analysis of data from the 1974-96 period provides some evidence suggesting that inclusion of barter in the output function improves the marginal predictability of money.

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“…It does this by clarifying the tradeoffs between monoculture currency systems (which we currently live in) that are efficient and those that have a diversity of them making them more resilient (which is what CTEs provide). (Marvasti & Smyth, 1998) (Stodder, 2009) According to Lietaer, CCs' economic resilience properties are explained through theories based on universal system flow that are grounded in natural eco-systems such as Self-organization Theory, Universality Theory, and Information Theory or Non-linear Dynamic Theory (Lietaer et al,7). Combined, they create the unified systems flow theory that has its roots in research of natural eco-systems.…”

Section: Resilience Theory: the Necessity Of Diversitymentioning

confidence: 99%

“…North (2010), Lietaer and Belgin (2010), and Greco (2008) all talk about this benefit in their books but their treatment is superficial in comparison. Marvasti and Smyth (1998) However, our understanding of them, specifically regarding the motivations and attitudes behind their use, has not been significantly examined. In fact, much that we know and can infer about CTEs comes from their community currency siblings.…”

Section: Cte Attitudes and Motivationsmentioning

confidence: 99%

An Analysis of the BizX Commercial Trade Exchange: The Attitudes and Motivations Behind Its Use

Montoya¹

2000

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The Global Financial Crisis underscored both the complexity and brittleness of the global financial system, especially for small to medium enterprises dependent on the current banking regime for credit. More than ever, we have also begun to see the disentanglement of small businesses from traditional banks at the local and regional level in the form of CDFIs, fintech alternative lending, and now complementary currencies. Through interviews with the management and members of the BizX complementary currency this study asks what the attitudes and motivations are behind its offering and use. In addition, it inquires into the economic and psychological benefits that arise from it. Often referred to as a barter network but more accurately described as a commercial trade exchange, BizX and its member's attitudes and motivations differ significantly from other complementary currencies in its apolitical stance to trade and large national and international membership. Its value proposition, the development of hyper-local economies, is real but its aspirational attempt at creating a robust community similar to its community currency siblings is questionable. Nonetheless, its value as an economic development tool is undeniable and the research concludes it implementation within a larger structure of economic development self-reliance strategies should be given serious consideration for future planning.ii

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Barter in the US economy:a macroeconomic analysis

Cited by 11 publications

References 11 publications

Small Business Social Responsibility: More than Size

Small Business Social Responsibility: More than Size

Barter's Role in the Money–income Relationship

An Analysis of the BizX Commercial Trade Exchange: The Attitudes and Motivations Behind Its Use

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