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When the Europeans arrived they established economic conversation with the natives through the barter or trading of commodities. Such relationship increased tremendously over time – thus becoming the cornerstones of business and the foundation of a nation. From the early trading systems, business in the progressed to more difficult and more comprehensive levels. Tracing these roots, from the first barter procedures through the Industrial Revolution up until the web Revolution can help us better appreciate why America is the most powerful economy in the world today. The beginnings of a business in the us are closely intertwined with the first practice of barter.
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In its early background, America was an accumulation of colonies where in fact the lack of a common money led to the utilization of all sorts of substitutes, e.g. tobacco and wampum, as money. Barter got many forms then. Among these were the potlatch ceremonies of Native Americans that had economic functions entwined with social and ceremonial significance. A potlatch is a ceremony involving music usually, dance, and spiritual rituals.
The host provides away his resources gathered for the event, which in turn the guests surrender return when they keep their own potlatches. Barter also required for the proper execution of traditional native currencies such as furs and wampum, which were essential for frontier trading with the indigenous inhabitants. Wampum, crafted from the shells of a type of clam, was best known form of money among Native Americans.