Research Reports from the Department of Operations

Document Type

Report

Publication Date

1-5-2015

Abstract

Bartering, humanity's oldest form of commerce, has been practiced since prehistoric times, with evidence dating back to 8300 B.C. This trade system has endured through various civilizations and economic stages, including the post-industrial era. Today, bartering remains prevalent, comprising 30% of global trade, with modern examples like professional sports player trades. Despite its widespread practice, bartering—referred to as "countertrade" in modern terminology—has received minimal attention in Western business education and research. However, this is poised to change, as the U.S. Department of Commerce predicts that countertrade will account for 50% of global trade by the year 2000. This resurgence highlights the importance of understanding bartering as a vital and evolving component of international commerce. [Published circa 1988-1989.]

Keywords

Operations research, Exchange--History, Countertrade, Economic development

Publication Title

Technical Memorandums from the Department of Operations, School of Management, Case Western Reserve University

Issue

Technical memorandum no. 615

Rights

This work is in the public domain and may be freely downloaded for personal or academic use

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