describe the sentinelese tribe
when did the discipline of economics come into being? what replaced the feudal system?
what does capitalism center around?
• Capitalism centers around a free market system; it is based on a mechanism whereby price is dependent upon supply and demand
contrast of capitalist and non capitalist exchanges
• Capitalist commodity exchanges, impersonal exchanges of goods for cash where exchange partners need not have any further contact with;
Non-capitalist gift exchanges, which are deeply embedded in social relations and always require a return gift
3 main modes of exchange (on test)
define reciprocity
• Reciprocity is the exchange of goods and services of equal value
what is generalized reciprocity?
• Generalized reciprocity: when an exchange is carried out without specifying the time or value of the return
what is balanced reciprocity?
• Balanced reciprocity: when a return of equal value at a specific time is expected
what is negative reciprocity?
• Negative reciprocity: when at least one party attempts to get something for nothing, without penalty
what does redistribution require?
requires some form of centralized social organization in order to:
• Receive economic contributions from all members of the group
• Redistribute the contributions so as to provide for every group member
• Ex: taxes
what 3 things does market exchange involve? describe each
how is the anthropology of food and nutrition studied?