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Troaking
Troaking was the barter between the Greenlandic Inuit, natives of Greenland and Scottish whalers, whalers from ports in Scotland. From the signing of the Treaty of Kiel in 1814 until the occupation of Denmark by Nazi Germany in 1940, Greenland was a protected and very isolated society. The Danish government, which governed Danish_colonization_of_the_Americas#Greenland, Greenland as its colony, had been convinced that this society would face exploitation from the outside world or even extinction if the country was opened up, and thus it maintained a strict monopoly of Economy of Greenland, Greenland's economy barring any trading or fishing within a certain distance of the Greenlandic coast. It did not, however, prohibit the sale of small articles not used in their trade, thus creating a loophole that enabled the practice of troaking, a barter between the natives and the Scottish whalers. References {{reflist Whaling in Scotland History of Greenland Whaling in Denmark Trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barter
In trade, barter (derived from ''baretor'') is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists distinguish barter from gift economies in many ways; barter, for example, features immediate reciprocal exchange, not one delayed in time. Barter usually takes place on a bilateral basis, but may be multilateral (if it is mediated through a trade exchange). In most developed countries, barter usually exists parallel to monetary systems only to a very limited extent. Market actors use barter as a replacement for money as the method of exchange in times of monetary crisis, such as when currency becomes unstable (such as hyperinflation or a deflationary spiral) or simply unavailable for conducting commerce. No ethnographic studies have shown that any present or past society has used barter without any other medium of exchange or measurement, and an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
