Bartering surges in hard times

LOS ANGELES, Nov. 15 (UPI) -- Cost-conscious U.S. consumers say barter is booming as the financial crisis makes cash and credit scarce.

"As long as the economy is the way it is, people have to find alternative ways to get the things they need and want," Jessica Hardwick, founder of SwapThing.com, told the Los Angeles Times.

In recent months, SwapThing.com, has transformed from a site for collectors and video-game enthusiasts to one where its 162,000 members barter for everyday goods and services, the Times reported Saturday.

For example, Chris Murphy, 42, a violinist from Santa Monica, Calif., said he recently exchanged private lessons for Web site design services and played a wedding for a sound used car.

Bartering also has downsides -- transactions don't always go smoothly and it's far more time-consuming and tricky than to simply pay cash, said Lawrence J. White, a professor of economics at New York University.

"Bartering waxes and wanes," White said. "Money is really the most efficient mechanism."