[burgessaccount]

“Barter” may not be the best term for it, but until the 18th/19th century (varied a lot by location), most people procured the physical goods they needed through their own family’s effort (subsistence); through in-kind payments and mutual exchange (old contracts used to specify that people would be paid in firewood, or candles…); and through favors. The switch from that model to a model of surplus and specialization, where people were paid in cash which could then be exchanged for any number of products, procured from distant places and from strangers, was indeed one of the most dramatic transformations in human history. I think we still don’t appreciate how much it shook up our old systems, and we blame things like divorce rates or child estrangement on newfangled values or bad morals when in fact they are a natural result of structural changes.