Online Learning Portal
Online Learning Portal
Hybrid Classes
We provide offline, online and recorded lectures in the same amount.
Personalised Mentoring
Every aspirant is unique and the mentoring is customised according to the strengths and weaknesses of the aspirant
Topicwise Mindmaps
In every Lecture. Director Sir will provide conceptual understanding with around 800 Mindmaps.
Quality Content
We provide you the best and Comprehensive content which comes directly or indirectly in UPSC Exam.
DAILY NEWS ANALYSIS
PRINT
09 May, 2020
5 Min Read
Karl Marx thought, about a century-and-a-half ago, that society moved from primitive communism, through various forms and structures of inequality, to communism proper. Economic systems moved forward, resolving their contradictions and creating new ones. Turns out he was, at best, only half right.
Mediums of exchange with fictional value — money, in all its forms and abstractions — are premised on a leap of faith.
People accept the “promise to pay the bearer” from a distant authority, and lives, communities, economies and civilisations are built on this trust.
But when the system isn’t enough, and the margins swell enough to flood the entire system, a different, more relatable form of exchange comes into place.
In Fiji, and many other Pacific Island nations, COVID-19 has forced a return to the barter system.
In epidemiological terms, the region has been relatively less affected by the pandemic: At the end of April, only six Pacific countries and territories between them have reported 260 cases and seven deaths.
Yet, over 10 per cent of Fiji’s population — 1,00,000 people — are active on a Facebook group called “Barter for a Better Fiji”. Similar groups have cropped up in Tonga, Samoa and Vanuatu.
The tourism sector in the region is devastated, and people are out of work.
Yet, in the absence of money, many are sustaining themselves through work, and the dignity of social exchanges that engenders.
|
What is a Barter System?
A barter system is an old method of exchange. Th is system has been used for centuries and long before money was invented. People exchanged services and goods for other services and goods in return. Today, bartering has made a comeback using techniques that are more sophisticated to aid in trading; for instance, the Internet. In ancient times, this system involved people in the same area, however today bartering is global. The value of bartering items can be negotiated with the other party. Bartering doesn't involve money which is one of the advantages. You can buy items by exchanging an item you have but no longer want or need. Generally, trading in this manner is done through Online auctions and swap markets.
|
How the barter system can work in the 21st century?
Labour — whether you’re a carpenter, teacher or accountant — can be exchanged for meat, food and other commodities.
Professional photography lessons are being exchanged for food.
The idea behind this network of exchanges is simple: An economic crisis need not descend into a humanitarian one.
Thinking of what each member of society can offer, and negotiating the value of that good/service might not lead to a Utopian ideal of equality.
But as the world struggles to treat people with decency amid a pandemic, it is at least a more moral equilibrium.
Source: IE
05 Apr, 26
A year after tensions arising from Operation Sindoor, India and Azerbaijan have taken steps to restore and normalise bilateral relations. The 6th round of Foreign Office Consultations, held in Baku, marked the first such engagement since 2022, signaling renewed diplomatic momentum. Recent Diplomatic Engagement During the consultations, bo
04 Apr, 26
The India–Australia Economic Cooperation and Trade Agreement has completed four years since its signing. Both countries now aim to build on this progress through strengthened collaboration and ambitious targets, including reaching AUD 100 billion in bilateral trade by 2030. What is the India–Australia Economic Cooperation and Tra
03 Apr, 26
A recent report by the Association for Democratic Reforms (ADR) analyses donations of ?20,000 or more declared to the Election Commission of India (ECI) by national political parties for FY 2024–25, highlighting transparency and accountability in political financing. Key Findings Massive Funding Surge Total donations to nationa
03 Apr, 26
Maritime chokepoints are narrow channels along global shipping routes where maritime traffic is concentrated. These points are geopolitically and economically critical, as they handle a large proportion of global trade, especially energy shipments. Current Relevance Over two-thirds of seaborne energy trade passes through a handful o
01 Apr, 26
Following the launch of Operation Epic Fury (U.S.) and Operation Roaring Lion (Israel), the geopolitical landscape has shifted fundamentally with the confirmed death of Iran’s Supreme Leader, Ayatollah Ali Khamenei.Iran retaliated through Operation True Promise 4, launching missile attacks against Israel and nearby Gulf states. The escala
05 Apr,2026
Our Popular Courses
Module wise Prelims Batches
Mains Batches
Test Series
24 × 7 Support :
8287714422
Whatsapp :
8010068998
Email Us: query@aspireias.com
My Notes
Geography And Environment
