Economics and Cultural Exchange in Anthropology

These flashcards cover key terms and concepts related to economics and cultural exchange as discussed in the lecture notes.

Value

Desirability and worth assigned to resources or items in a culture.

Values

Moral norms that influence how individuals and societies assign value to resources.

Neoclassical Economics

An economic perspective that views the economy as the exchange of goods/services driven by rational individuals.

Substantivists

Economists who focus on actual transactions and how cultural factors like kinship and religion impact economies.

Marxists

Economists who view economies as natural cycles where modes of economy rise and fall and often exploit labor surplus value.

Cultural Economics

The study of how cultural norms and symbols shape an economy and its practices.

Inalienable Social Possessions

Items that are considered sacred or too valuable to be exchanged, as they represent social and cultural identity.

Balanced Reciprocity

Exchanges that are roughly equal in value and occur at specific intervals or for particular purposes.

Generalized Reciprocity

A form of exchange where gifts are given without an expectation of immediate return, often among close relations.

Negative Reciprocity

Attempts to gain a better deal at the expense of others, often seen in haggling or bargaining contexts.

Redistribution

The collection and distribution of goods by a centralized authority, which does not guarantee fairness in distribution.

Potlatch

A ceremonial feast among Indigenous peoples of the Pacific Northwest, involving the redistribution of wealth and a display of status.

Prestige Economies

Economic systems where individuals seek to enhance their social status through gifting and exchange, rather than for direct material gain.

Social Distance

The degree to which cultural norms dictate the expected level of intimacy or support between individuals or groups.