3 ms·
The babysitting co-op Krugman referred to was a barter market where people can only trade ONE thing. And where each member had to contribute 14 hours worth of
by stretchwithme 10y ago
The babysitting co-op Krugman referred to was a barter market where people can only trade ONE thing.
And where each member had to contribute 14 hours worth of babysitting a year just to pay for using the system. That's why there was more supply than demand in that "market" when it started.
https://en.wikipedia.org/wiki/Capitol_Hill_Babysitting_Co-op