The way the economy worked before wasn't bad - the issue was mostly about storage.
Dwarves would accumulate a hidden 'value owed' counter based primarily on their current tasks. Hauling would pay out the least, while high-value work, being a noble, being a soldier etc. would accumulate more. If there was no coinage in the fort they would basically be 'owed' it in the form of items. You could build merchant stalls, which would carry superfluous goods automatically from in your fortress; a dwarf would claim the shop as an owner and would sell items based on this invisible currency. A dwarf would browse the shops, find something he likes, and either give coins (if there were any) or simply haul the item off.
The issue with storage though - there simply wasn't enough room for dwarves to put all their items, leaving to massive piles of scattered belongings all over the fort that couldn't be moved, cleaned up, or destroyed (they also would rarely, if ever, use cabinets or chests). If you had coins, they would take individual coins from the stack and just leave them strewn all over the floor, sometimes in the hundreds.
In the raws you'll see some vestiges of this- the 'zero rent' toggle was for the economy, as dwarves would have to pay rent based on the value of their bedroom, and would get evicted if they couldn't afford it (leading to slum housing and even vagrants who slept on the floor if you had lots of unemployed and no cheap hovels).
Personally I really liked the economy as it was.