Which one is better -Money or Barter system?Barter system is the old method of exchange which was used before the arrival of money. In barter system the people exchanged goods and services for other goods and services in return. After the invention of currency, trading of goods and services through bartering was reduced and the exchange of goods and services happens in the form of money. When the barter system was in existence, there was no shortage of foreign exchange and imbalance in the trade and moreover the people did not give more importance in gathering wealth. After the arrival of money, people started to give more importance to the piece of paper lying inside the wallet and wanted to earn money in an easy way. Lot of economic instability, social evils, black money, over capitalization and many more issues has been raised in the Society because of money.
Both currency and barter system has advantages and disadvantages.
What do you feel is the best exchange system – Monetary or Barter System? Why?