So they say that money is the root of all evils. Imagine weeding out the root so we would go back to old times of exchanging products via barter system.
I watched a documentary, "How to Live Mortgage Free by Sarah Beeny", which features a couple parking their mobile truck that serves as their home in a warehouse whose owner offers them free space in return for services to look after his farm. They save a lot and are happy about the ex-deal.
Have been thinking about this bartering thing for some days, as I heard many people talking about hard life, the skyrocketing costs of living and some economic challenges particularly in our country, the Philippines. A friend who arrived from her vacation shared her story that with PhP3K only a few items could be bought, compared here that with AED206.86 you can buy many of your basic needs already.
To tame inflation, Philippine President Rodrigo Roa Duterte wants to revive an ancient form of economic activity -- barter, with Sabah.
It may hurt other industries (say, finance) and there may be some areas that will lead to abuse of the barter system but he ensures that it will be properly regulated.
Actually, the barter system happens around. For example, one company needs sponsors for its promotional event. A coffee shop owner who wants to be one of its exhibitors ex-deals its coffee products in return for an exhibition slot.
A student who wants to learn and get school certification for his desired course without spending a cash for tuition fees pays it in terms of services as a student assistant.
One publisher of a weekly publication for overseas Filipinos once told me that he wanted to buy a condominium unit in the Philippines but it must be an ex-deal for an advertising space in his newspaper. (Ahaha, that is PhP3M or PhP206K!)
Some creditors who cannot collect his receivables from the debtors require them to render services or take items for same or lesser value to erase the debts.
Sometimes even fines can be 'bartered' like jaywalking fine for a community service, say, cleaning a community street.
We see some online swapping platforms that allow one to exchange products and/or services.
The thing is there is no cash exchange for one to get what he desires with value for something of value, too.
What about this -- "a seed for a song"? Maybe we can create a forest.
I think Pres. Duterte's passionate move to tame inflation is a wise strategy to make things cheaper and easier for Juan de la Cruz. But for those strongly embracing Digital Economy where the trackable e-cash is the dominant product exchange tool, the barter system may find a narrow place.
My two-cent thoughts: There is no harm in doing the products/services exchange mix if that will help people survive in a decent way and be happy.
What is it that you would like to barter if given the chance, and for what? I love to read your comments below.
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Photo credits: Pixabay
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