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It seems to me that this is an idea who's time has come, over and over. What puzzles me is why it hasn't caught fire.
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Probably because, except on small scales, it becomes a bit unwieldy to keep track of it. Get a lot of it going on, and you're hiring employees to manage just the bartered stuff.
Now, on an individual basis, I think it's a great idea, and have done it in the past quite a bit. Lessee, a S&W 9mm, an older IBM ThinkPad, a printer for my credit card terminal, IT and computer repair work, T-Shirts for my business, windshield replacement, auto bodywork, dinners at AppleBees, and I'm sure that I'm forgetting some.