Wednesday, November 30, 2011

Greeks rediscover barter

It's Sunday in Volos, a fishing village nestled in a large bay in central Greece, and fishermen display their daily catch, which this day includes codfish, sardines and octopus.
Prices have been slashed, but customers are few.Fisherman Christos Xegandakis laughs bitterly. He says business is so bad, it's time to start swapping goods."Give me two kilos of potatoes, and I give you a kilo of fish," he says. "Why not?
Indeed, many in debt-ridden Greece — where radical austerity measures have led to soaring unemployment, business closures and a credit crunch — are doing just that: turning to a simpler form of commerce, bartering.And in Volos, a barter system is also fostering a new sense of community.
Read the rest or listen to the piece at NPR
Modern Greeks Return To Ancient System Of Barter
by Sylvia Poggioli

Barter was resorted to in the WWII and post-war years in many countries in Europe. Those memories are being revived.


Dan said...

Is the suggestion that the Fed announce who it lends to through the discount window with no time lag or that the discount window be abolished altogether? That the lender of last resort function be voted on by Congress?

Anonymous said...

Barter and local exchange currencies can be used to create economic activity - Canadians have discovered this too!