Anthropology 1025F/G Lecture Notes - Lecture 4: Invisible Hand

• School: Western University
• Department: Anthropology
• Course: Anthropology 1025F/G
• Professor: Kim Clark

Document Summary

: the donators do not expect a return at specific time in the future. Ex: in societies where it is mostly family (among foragers). People who have food are supposed to give to those who don"t have. Resources are not privatized and generosity is essential to life (foragers). Modern ex: between parents and child: balanced reciprocity: goods are transferred and there is an expectation of an exchange. People complain because withhold mutual exchange it wouldn"t be balanced. There is an ongoing exchange to get goods, typically goods that are not local. The exchange is sometimes used for social benefit. It can create an obligation, there is an expectation that it would be given back at later date. It requires: some object used as a medium of exchange (money): A rate at which goods are exchanged for money (prices): Parties to exchanges who have alternative buyers and sellers and are free to make the best deal they can.