- published: 24 Dec 2011
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Barter is a method of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money. It is usually bilateral, but may be multilateral, and usually exists parallel to monetary systems in most developed countries, though to a very limited extent. Barter usually replaces money as the method of exchange in times of monetary crisis, such as when the currency may be either unstable (e.g., hyperinflation or deflationary spiral) or simply unavailable for conducting commerce.
Contrary to popular conception, there is no evidence of a society or economy that relied primarily on barter. Instead, non-monetary societies operated largely along the principles of gift economics and debt. When barter did in fact occur, it was usually between either complete strangers or would-be enemies.
While one-to-one bartering is practised between individuals and businesses on an informal basis, organized barter exchanges have developed to conduct third party bartering. A barter exchange operates as a broker and bank in which each participating member has an account that is debited when purchases are made, and credited when sales are made. Compared to one-to-one bartering, concerns over unequal exchanges are reduced in a barter exchange.[citation needed]
William "Bill" Maher, Jr. ( /ˈmɑːr/; born January 20, 1956) is an American stand-up comedian, television host, political commentator, author, and actor. Before his current role as the host of HBO's Real Time with Bill Maher, Maher hosted a similar late-night talk show called Politically Incorrect originally on Comedy Central and later on ABC.
Maher is known for his political satire and sociopolitical commentary, which targets a wide swath of topics including religion, politics, bureaucracies of many kinds, political correctness, the mass media, greed among people and persons in positions of high political and social power, and the lack of intellectual curiosity in the electorate. He supports the legalization of marijuana and same-sex marriage, and serves on the board of PETA. He is also a critic of religion and is an advisory board member of Project Reason, a foundation to promote scientific knowledge and secular values within society. In 2005, Maher ranked at number 38 on Comedy Central's 100 greatest stand-up comedians of all time. Bill Maher received a Hollywood Walk of Fame star on September 14, 2010.