Article: http://www.myfoxatlanta.com/dpp/news/local_news/Bartering-Sees-Comeback-with-Businesses-20110511-am-sd
Summary:
This article is about the rising usage of the traditional barter system in today’s modern age. It is mainly utilized by small businesses, helping them survive the current economy and thrive in it as well. The article then continues on by providing facts regarding the origins of the barter system, stating how it was around for a long time. They then provide an interview with a small business owner, taking advantage of the barter system. Joe Cox, a small business owner, proclaims how advantageous it was for him to use the barter system in the current declining US economy. While everyone is cutting budgeting towards advertisement, Joe Cox has expanded his.
Connections:
The barter system connections directly with the chapter we are currently studying, which pertains to money. More precisely, I am referring to the value of the dollar. One of the most important aspects of money is for the people using the currency to have faith in the value of it. In the article, the people no longer have faith in the weak American dollar and as a result they are looking for alternatives. They fell back on the old and traditional barter system, because the traded goods proved to have a significant value towards them, rather than using traditional money.
Reflection:
The news that some small businesses are reverting back to the system of barter alarms me regarding the course of our bleak future. It scares me how some people have already began losing fate upon their country’s dollar and its value. It feels like the world and its economy is about to shatter. It is also note worthy to mention that the date in which I am writing this article is May 15h, six days away from what a certain religion refers to as Judgment Day. The cumulative evidence is kind of frightening to me, perhaps something horrible might occur in six days time, perhaps not and I am merely over speculating things.
1 comments:
You wrote a very interesting blog. Now that you mention it, losing faith in money is very scary because it has been around for so long. I didn't know businesses were resorting to the barter system to stay afloat during this economic hardship. However, I think you should have mentioned how hard it is to determine the value of goods and services in the barter system. It is also very inconvenient to barter rather than using money. So, I think the situation will get better.
Elena Jiang Su
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