A two-marketplace and two-currency system: A view on business-to-business barter exchange

This paper is a consideration of the definition of barter credit as a secondary currency. The business-to-business barter exchange and the national economy function as a system comprised of a currency component and a marketplace component. Barter activity including the creation of a medium of exchange is recognized and defined in national legislation of some key jurisdictions, and is defined de jure as a part of the national economy. The barter credit is thus de facto defined as a currency secondary to the national currency which is the primary currency. I consider three points: 1. The rule of “fair market value” guides behaviour in the barter exchange, 2. The option for business to operate in both the barter exchange and the national economy is a mechanism linking the two, 3. The barter exchange functions in such a way that there can be anti-deflationary dynamics in the region, as articulated by Stodder (2009).

Melina Young

To cite this article: Young, M. (2012) ‘A two-marketplace and two-currency system: A view on business-to-business barter exchange ’ International Journal of Community Currency Research 16 (D) 146-155  <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2012.021

IJCCR 2012 Young

Communal Currencies In Venezuela

Communal currencies, operating in ‘barter’ systems, have been introduced in Venezuela by the national government over the last few years, making them unique among contemporary alternative and complementary currencies in terms of their institutional origin. The communal currencies are an element of the Bolivarian Revolution, and an example of President Chávez’s innovative approach to the construction of ‘twentfirst century socialism’. The main ideological features of the trueke (barter) are the recovery of indigenous practices, socialism, and agroecology. There are currently 13 barter systems in the country, with a total membership of about 1,500. This relatively modest development is arguably due to socioeconomic factors such as the widespread reduction in poverty rates achieved through the regular economy. It is suggested that the future of the communal currencies depends on the broader process of building the ‘Communal State’, as well as on their relation to the state.

Kristofer Dittmer Volume 15(2011) A78-83

IJCCR 2011 Dittmer

To cite this article: Dittmer, K. (2011) ‘Communal Currencies In Venezuela’ International Journal of Community Currency Research 15 (A) 78-83 <www.ijccr.net> ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2011.008