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What happened to barter trading after the invention of money
- October 21, 2012
- Posted by: admin
- Category: Uncategorized
What happened to trade after the invetion of money?
When currency (money was invented) during the ruling of the ancient kings, barter trade began to lose its strength, And instead; the stock market, the merchants that makes currency (money) began to control the trading system of exchanging commodities.
Through the exchange of currency for goods, (people taking their assets and goods to the bankers to exchange it into money before they can be able to buy and sell), the kings money (paying of tax) became the legal authority that gave the people the right to be able to exchange their gifts or goods.
Must pay tax first before trading:
(Every commodity had to be taxed before it was barter traded, and every business man had to first take a loan, borrow money or go into debt before he could be able to sell his goods to others).
Barter trading restored via the internet:
From the time of history until the present time, when the discovery of internet emerged forth, this is when we are seeing the revival or restoration of the system of barter exchange among people becoming a reality again.
Small companies, people with good ideas that are not supported by the rich investors, and those who have something to offer to others are sharing their gifts with those coming from the different parts of the world through the internet.
This article was taken from www.ngabo.org/written by Ap-Ngabo