3 ms·
> Barter economies never had inflationary periods. Barter economies have also never existed in human societies. They have either been gift economies (esp. with
by throw0101a 3y ago
> Barter economies never had inflationary periods.
Barter economies have also never existed in human societies. They have either been gift economies (esp. with smaller tribes) or credit economies (records dating back to the earliest tables from Mesopotamia and Ancient Egypt). See:
* https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years
For a more recent example of a society becoming pure credit, see:
* https://en.wikipedia.org/wiki/Irish_bank_strikes_(1966–1976) https://en.wikipedia.org/wiki/Irish_bank_strikes_(1966–1976)
* https://www.youtube.com/watch?v=mFIQWWt4UaA https://www.youtube.com/watch?v=mFIQWWt4UaA