ANTH 1150 Chapter Notes - Chapter Economics: Homo Economicus, Eric Wolf, Economic Anthropology

• School: University of Guelph
• Department: Anthropology
• Course: ANTH 1150
• Professor: Tad Mc Ilwraith

Document Summary

Motives of homo economicus: determine how social, cultural, political a(cid:374)d i(cid:374)stitutio(cid:374)al for(cid:272)es shape hu(cid:373)a(cid:374)s" e(cid:448)er(cid:455)da(cid:455) de(cid:272)isio(cid:374)s. E(cid:272)o(cid:374)o(cid:373)ists" (cid:373)odels rest o(cid:374) se(cid:448)eral assu(cid:373)ptio(cid:374)s: that people k(cid:374)o(cid:449) what they want, that their economic choices express these wants, and that their wants are defined by their culture. Is a normative theory: specifies how people should act if they want to (cid:373)ake effi(cid:272)ie(cid:374)t e(cid:272)o(cid:374)o(cid:373)i(cid:272) de(cid:272)isio(cid:374)"s. Anthropologists consider 3 distinct phases of economic activity: production, exchange, and consumption. Production: transforming nature and raw materials into the material goods that are useful. Exchange: how those goods are distributed among people. Modes of exchange: 3 ways to integrate economic and social relations and distribute material goods, only study market exchange with contemporary economics, most (cid:272)a(cid:374)"t e(cid:454)plai(cid:374) re(cid:272)ipro(cid:272)it(cid:455) a(cid:374)d redistri(cid:271)utio(cid:374) Money: can be exchanged for all manner of goods and services, different forms of it around the world.