CHAPTER 7 - ECONOMY

ECONOMY

A cultural adaptation to the environment that enables a group of humans to use the available land, resources, and labor to satisfy their needs and to thrive

What did Yehudi Cohen describe an economy as?

A set of adaptive strategies that humans have used to provide food, water, and shelter through production, distribution, and consumption

Food Foragers

Humans who subsist by hunting, fishing, and gathering plants to eat

Pastoralism

A strategy for food production involving the domestication and herding of animals

Horticulture

The cultivation of plants for subsistence through nonintensive use of land and labor

Agriculture

An intensive farming strategy involving permanently cultivated land to create a surplus

Industrial Agriculture

Intensive farming practices involving mechanization and mass production of foodstuffs

Reciprocity

The exchange of resources, goods, and services among people of relatively equal status to create and reinforce social ties

Redistribution

A form of exchange in which accumulated wealth is collected from members and reallocated in a different pattern

Colonialism

The practice by which states extend political, economic, and military power beyond their borders to secure access to resources, labor, and markets

Triangle Trade

The extensive exchange of enslaved people, sugar, cotton, and furs between Europe, Africa, and the Americas

Industrial Revolution

The shift from agriculture and artisanal craft to machine-based manufacturing

Modernization Theory

Theories predicting that less-developed countries would follow the same path toward modernization as industrialized countries

Development

A strategy of wealthy nations to spur global economic growth and alleviate poverty through investment in former colonies

Neocolonialism

A continued pattern of unequal economic relations between former colonial states and former colonies

Underdevelopment

The idea that poor countries are poor due to their relationship to an unbalanced global economic system

Core Countries

Industrialized former colonial states that dominate the world economic system

Periphery Countries

The least developed nations often exploited for resources, labor, and markets

Fordism

The dominant model of industrial production based on a social compact between labor, corporations, and government

Flexible Accumulation

Flexible strategies corporations use to accumulate profits through globalization and technological innovation

Neoliberalism

An economic worldview that sees the free market as the main mechanism for economic growth with limited government role

Cryptocurrency

Decentralized digital or virtual currencies secured through encryption

Stratification

The uneven distribution of resources and privileges among members of a group

Class

A system of power based on wealth, income, and status that creates unequal distribution of resources

Bourgeoisie

The capitalist class that owns the means of production

Proletariat

The class of laborers who own only their labor

Means of Production

The tools, factories, land, and capital needed to make goods

Prestige

The reputation, influence, and deference given to people due to group membership

Life Chances

An individual’s opportunities to improve their quality of life and achieve goals

Social Mobility

The movement of one’s class position upward or downward

Social Reproduction

The passing of social and class relations from one generation to the next

Habitus

Self-perceptions, sensibilities, and tastes shaped by external influences over time

Cultural Capital

Knowledge, habits, and tastes that can be used to gain access to resources

Income

Earnings from work plus dividends, interest, rents, and royalties

Wealth

The total value of what someone owns minus any debt

The Tsukiji Fish Market best illustrates what concept?

A technologically integrated global network connecting fishers, buyers, and consumers worldwide

What does the Tsukiji market show about global economies?

Seafood moves through a global system into restaurants, supermarkets, and homes across regions

What did Kusimba (2021) argue about mobile money in Kenya?

It reinforced long-standing systems of kinship, reciprocity, and financial ties

Which concern is associated with cryptocurrencies?

Wild valuation fluctuations, security risks, and lack of regulation

In a fast-food restaurant, who represents the proletariat?

The workers who sell their labor and do not own the means of production

Who benefits from surplus labor value in a fast-food restaurant?

The owners and corporations who extract profit from labor

What does the U.S. income distribution data show?

Higher percentages of income are concentrated among top earners

What does global wealth data indicate?

Most wealth is controlled by a small percentage of the population

Which explanation of poverty do most anthropologists support?

Poverty results from structural factors like lack of jobs and systemic inequality

Outsourcing production to another country is an example of what?

Flexible accumulation using global strategies to reduce costs

Who described economies as adaptive strategies for survival?

Yehudi Cohen describing strategies for food, water, and shelter provision

Who argued that free markets and free trade lead to economic growth?

Adam Smith supporting minimal government intervention in markets

Who believed government should moderate capitalism?

John Maynard Keynes advocating government intervention

Who developed the concept of bourgeoisie and proletariat?

Karl Marx analyzing class conflict and labor exploitation

Who added prestige and power to class analysis?

Max Weber incorporating prestige and life chances into stratification

Who introduced habitus and cultural capital?

Pierre Bourdieu analyzing culture, education, and class reproduction

Which theory critiques modernization by arguing inequality persists?

Dependency theory arguing global inequality remains structured

What did Goode and Maskovsky argue?

Outsourcing and globalization have increased U.S. income inequality

A community shares resources equally among members to strengthen relationships. What is this?

Reciprocity involving exchange among equals to reinforce social ties

A government collects taxes and redistributes them as social programs. What is this?

Redistribution where wealth is collected and reallocated

A country extracts raw materials from another nation with cheap labor. What is this relationship?

Core exploiting periphery for resources and labor

A former colony remains economically dependent on its former colonizer. What is this?

Neocolonialism maintaining unequal economic relationships

A company moves production overseas to reduce labor costs. What is this?

Flexible accumulation using global production strategies

A student succeeds because they learned academic behaviors from family. What is this?

Cultural capital used to access valuable resources

A person’s tastes and behaviors shaped over time influence decisions. What is this?

Habitus shaping perceptions and actions

Children remain in the same social class as their parents. What is this?

Social reproduction maintaining class structures

A society has unequal access to resources and power. What is this?

Stratification creating uneven distribution