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Showing posts with the label barter economy

Just my thoughts #0707

Milutin Milanković argued that the Earth’s Ice Age was caused by a change in the Earth’s orbit around the sun. This change is said to affect the inclination of the Earth’s northern and southern hemispheres and reduce the amount of solar radiation. However, the main reason is believed to be that summer isn’t hot enough. The ice kept accumulating as summer passed, and winter arrived before all the ice could melt. Even in our lives, things we neglect tend to build up and lead to big problems. Small, untreated chores can produce significant results over time. Good luck or bad luck, maybe that’s all there is. - Joseph’s “just my thoughts”

Just my thoughts #0499

Compared to the era of a self-sufficient barter economy , everyone’s happiness is greater in the exchange economy , where each person divides their labor into what they do best and exchanges what they produce. This is because the division of labor is more efficient than self-sufficiency in productivity and can further reduce production costs. At this point, a means of exchange agreed upon by society is required, which is called money (currency). In other words, in the exchange economy, specialists who excel in one field are more advantageous for survival than ordinary people. An all-round player is more likely to face starvation. Therefore, a generalist is only advantageous for survival when they can organically integrate their diverse abilities in a specific field or situation, while also managing and restricting the scope of their activities and conditions. - Joseph’s “just my thoughts”