Is a LETSystem a type of barter system?
LETSystems use their own type of ‘money’ – they are money systems. Barter is a type of exchange where we swap goods and services without using money – I give you a loaf of bread and you give me two cabbages. You fix my car and I’ll cook you dinner. But you may not like my cooking…………. Money overcomes the limitations of barter. I give you money for your goods and services and you can spend it elsewhere. In a LETSystem you can use your account to buy what you want from one person and then sell what you can to another.
