markitect-main/examples/infospace-with-history/output/entities/double-coincidence-of-wants.md

Double Coincidence of Wants

Definition

The requirement in barter systems that each party to an exchange must simultaneously possess exactly what the other party desires, creating a significant barrier to trade when such matching preferences cannot be found.

Source Chapter

Book I, Chapter 4

Context

Smith identifies this as the primary limitation of barter systems, where a butcher with meat cannot exchange with a brewer who has beer if neither desires the other's product, demonstrating why money becomes necessary for efficient commercial exchange.

Economic Domain

Exchange

---