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Article
Publication date: 20 January 2020

Ahmet Suayb Gundogdu

The purpose of this paper is to explore an alternative Islamic monetary system in which money is created from supply chain grassroots based on work effort and is accessible to…

Abstract

Purpose

The purpose of this paper is to explore an alternative Islamic monetary system in which money is created from supply chain grassroots based on work effort and is accessible to people as long as they offer goods and services demanded by others.

Design/methodology/approach

This study adopts the critical realism approach and highlights the challenges with the present monetary system. It also proposes to address these challenges through an alternative monetary system in which money creation starts from the grassroots of the supply chain. The proposed system extends the real-world complementary currency concept of barter to a holistic electronic trading platform, which includes chain barter alternatives, licensed warehouses and electronic warehouse receipts within the Islamic microfinance practice, thereby facilitating cross-border trade and international trade payments. An electronic currency, valued at the worth of goods produced in the supply chain, is introduced as the medium of exchange.

Findings

The problem with past monetary systems can be addressed through current information technology and supply chain management to enable a monetary system and money creation based on real economic transactions.

Originality/value

This study proposes an alternative monetary system, which is only possible by harnessing supply chain management with money creation. The proposed monetary system may be considered, should the present system fail or need to be improved.

Details

Journal of Islamic Accounting and Business Research, vol. 11 no. 2
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 1 February 1996

Nigel M. Healey

The ‘barter’ of goods (or services) for goods (or services) between companies, either on a bilateral basis or (more usually) via the intermediation of a broker, has been growing…

Abstract

The ‘barter’ of goods (or services) for goods (or services) between companies, either on a bilateral basis or (more usually) via the intermediation of a broker, has been growing rapidly in recent years. In the United States, barter transactions between US companies amounted to an estimated $9bn in 1995. While historically a US phenomenon, the practice is increasingly spreading to Europe, Asia and Australia. There is now a growing number of so‐called ‘barter exchanges’ operating in Britain and continental Europe. The primary purpose of this paper is to assess the prospects for the development of the British barter exchange industry over the medium to long term. It provides an overview of barter exchanges, examining the US barter exchange industry, which is at a much higher level of development than its British counterpart, in order to identify the way in which the industry operates and the factors which are critical to its growth. It then assesses the prospects for the British barter exchange industry, drawing upon the lessons of the US experience.

Details

Journal of Small Business and Enterprise Development, vol. 3 no. 2
Type: Research Article
ISSN: 1462-6004

Article
Publication date: 23 September 2014

Tanweer Ali

– The purpose of this study is to examine two rival narratives regarding the nature and evolution of money with reference to metaphor.

Abstract

Purpose

The purpose of this study is to examine two rival narratives regarding the nature and evolution of money with reference to metaphor.

Design/methodology/approach

The article draws on theoretical literature on money. Post-Keynesian perspectives are given consideration due to the particular attention that this school has given to money.

Findings

A crucial divide in the understanding of money is interpreted in terms of two different narratives. We conclude that the narrative of money as credit has greater explanatory power, but that the commodity narrative, which is metaphorical in nature, is easier to comprehend and conceptualize.

Research limitations/implications

This study has been qualitative in nature; further research would require specification of a linguistic methodology, including selection and analysis of a corpus. A process for detecting metaphors within a selected corpus would also need to be established. Moreover, the discussion of the commodity metaphor as a normative theory has not considered the moral aspects of different views on debt and credit.

Social implications

Study of metaphor should shed light on basic assumptions behind public policy choices. This should enhance the general understanding of related debates, for example on public spending (i.e. austerity versus stimulus).

Originality/value

This article examines a familiar debate in economics using the methods of linguistics. The approach may also serve a function as a pedagogical tool.

Details

On the Horizon, vol. 22 no. 4
Type: Research Article
ISSN: 1074-8121

Keywords

Book part
Publication date: 4 April 2016

Farley Grubb

The British North American colonies were the first western economies to rely on legislature-issued paper monies as an important internal media of exchange. This system arose…

Abstract

The British North American colonies were the first western economies to rely on legislature-issued paper monies as an important internal media of exchange. This system arose piecemeal. In the absence of banks and treasuries that exchanged paper monies at face value for specie monies on demand, colonial governments experimented with other ways to anchor their paper monies to real values in the economy. These mechanisms included tax-redemption, land-backed loans, sinking funds, interest-bearing notes, and legal tender laws. I assess and explain the structure and performance of these mechanisms. This was monetary experimentation on a grand scale.

Details

Research in Economic History
Type: Book
ISBN: 978-1-78635-276-7

Keywords

Article
Publication date: 1 August 2000

Hazel Henderson

This article traces global economic trends and sources of energy from the fossil fuel era of the Industrial Age to the Information and Solar Age. Keynesian economics as well as…

1901

Abstract

This article traces global economic trends and sources of energy from the fossil fuel era of the Industrial Age to the Information and Solar Age. Keynesian economics as well as political, economic and military power, led to the industrialized countries’ petroleum addiction and the demonization of OPEC. The shift from the Old Economy to the New Economy will be accompanied by greater emphasis on energy efficiency and a shift towards renewable resources, “green” energy technologies and environmental protection and restoration. The globalization of economics, finance, markets and trade driven by technology and liberalization of capital flows have led to the dematerialization of OECD economies. This will necessitate recognition of, and investment in, people and social infrastructure with education and health care as key economic sectors and knowledge, intellectual, social and ecological capital as the key factors of production. Due to advances in the internet and e‐commerce and the increasing interchangeability of money with information there will be a continuing flight into pure information‐based electronic trading systems and the growth of a less costly and more efficient pure high‐tech barter system. The issues of unequal terms of trade, poverty and the need for development will continue. If OPEC is able to grasp the significance of the shift to the Solar Age, it has an opportunity to reassert its leadership role in development.

Details

Foresight, vol. 2 no. 4
Type: Research Article
ISSN: 1463-6689

Keywords

Content available
Article
Publication date: 31 July 2009

185

Abstract

Details

Journal of Consumer Marketing, vol. 26 no. 5
Type: Research Article
ISSN: 0736-3761

Article
Publication date: 1 March 1994

Eric Sandelands

This special “Anbar Abstracts” issue of the Marketing Intelligence & Planning is split into nine sections covering abstracts under the following headings: Business Strategy;…

7964

Abstract

This special “Anbar Abstracts” issue of the Marketing Intelligence & Planning is split into nine sections covering abstracts under the following headings: Business Strategy; Marketing Strategy; Customer Service; Sales Management; Promotion; Marketing Research/Customer Behaviour; Product Management; Logistics and Distribution; Sundry.

Details

Marketing Intelligence & Planning, vol. 12 no. 3
Type: Research Article
ISSN: 0263-4503

Article
Publication date: 11 May 2021

Glenn Finau and Matthew Scobie

The study uses the case of an online-mediated barter economy that proliferated during the COVID-19 crisis to highlight Indigenous notions of barter, trade and exchange.

Abstract

Purpose

The study uses the case of an online-mediated barter economy that proliferated during the COVID-19 crisis to highlight Indigenous notions of barter, trade and exchange.

Design/methodology/approach

A netnographic approach was employed which involved collecting online posts and comments which were stored and analysed in NVivo. This was supplemented with field notes and reflections from authors with an intimate knowledge of the context. These were analysed thematically. The overall methodology is inspired by decolonising methodologies that seek to restore the agency of Indigenous Peoples in research towards self-determination.

Findings

Findings suggest that during and beyond the crisis, social media (a new means) is being used to facilitate barter and determinations of/accounting for value within. This is being done through constant appeals to, and adaptation of, tradition (old ways). Indigenous accounting is therefore best understood as so through Indigenous accountability values and practices.

Originality/value

This paper propose a re-orientation of accounting for barter research that incorporates recent debates between the disciplines of economics and anthropology on the nature of barter, debt and exchange. The authors also propose a re-imagining of accounting and accountability relations based on Indigenous values within an emerging online barter system in Fiji during COVID-19 as “old ways and new means” to privilege Indigenous agency and overcome excessive essentialism.

Details

Accounting, Auditing & Accountability Journal, vol. 35 no. 1
Type: Research Article
ISSN: 0951-3574

Keywords

Book part
Publication date: 2 February 2001

Peter W. Liesch and Dawn Birch

Formalized business-to-business (corporate) barter is relatively new to the Australian business marketing and purchasing landscape. This is the first empirical study reported on…

Abstract

Formalized business-to-business (corporate) barter is relatively new to the Australian business marketing and purchasing landscape. This is the first empirical study reported on business-to-business barter in Australia. Business-to-business barter operates through trade exchanges which centralize barter transactions in a highly organized and transparent manner. Computer technologies have facilitated the growth and sophistication of this exchange system. It appears to becoming institutionalized in Australia within and alongside the orthodox prices-mediated market regime. Business-to-business barter might be seen as an innovation on a very old fundamental in exchange that has re-emerged in response to deficiencies in the orthodox system.This chapter reports research on the largest of Australia's barter trade exchanges, Bartercard. Bartercard is not only a national exchange within Australia as it also has begun to internationalize its operations. A national mail survey of Bartercard members was conducted to understand more of this form of business-to-business enterprise. Issues investigated include: benefits of membership, limitations of the system, “pricing” within the system, the transaction coordination mechanism, factors leading to success of the system and its likelihood of longevity. Demographics of surveyed firms are reported. The results indicate that there are significant benefits for members but that trading in the system has limitations which necessitate a reliance on the orthodox prices-mediated system for the larger part of the firm's business activity. It does appear that a membership consociation exists within the system which facilitates the transaction mediation. The organizational nature of the trade exchange investigated, and its management, will ensure continuation of its members' business barter trade regardless of variations in the macroeconomics of Australia's economy. Avenues for enterprising research are uncovered.

Details

Getting Better at Sensemaking
Type: Book
ISBN: 978-1-84950-043-2

Article
Publication date: 17 August 2015

Rolf F.H. Schroeder

The purpose of this paper is to provide an overview of the Tausch- or barter-centers that existed in Germany during the 1940s. These small but unique platforms for the exchange of…

Abstract

Purpose

The purpose of this paper is to provide an overview of the Tausch- or barter-centers that existed in Germany during the 1940s. These small but unique platforms for the exchange of consumer durables represent an almost unknown chapter in economic history. This contribution aims to describe the major characteristics of these organizations and to investigate the implications of these findings for community currencies in general.

Design/methodology/approach

An analysis is conducted of primary sources, which bring to light different types of these alternative markets. This is complemented by a comprehensive study of secondary sources.

Findings

Theoretically, these exchange systems are interpreted as operating within boundaries. The results of this research project are not only relevant for our understanding of the war and post-war economy in Germany, at a time when the market mechanism was suppressed, this peculiar case also sheds some light on the functioning of markets. Furthermore, a better knowledge of the structure of the Tausch- or barter-centers is relevant with regard to our understanding of the functioning of community currencies in general.

Originality/value

This paper provides the first survey of these organizations.

Details

Journal of Historical Research in Marketing, vol. 7 no. 3
Type: Research Article
ISSN: 1755-750X

Keywords

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