Economic Anthropology

Definition

Economic anthropology is the study of how different cultures and societies organize their economic activities, including the production, distribution, and consumption of goods and services. It examines the social, cultural, and political factors that influence economic behavior and decision-making within a given context.

5 Must Know Facts For Your Next Test

1. Economic anthropologists study how economic activities are shaped by cultural beliefs, social structures, and political institutions.
2. They often focus on non-Western or traditional societies to understand alternative economic systems and their underlying logics.
3. The concept of the 'gift economy' is a key area of study in economic anthropology, where economic transactions are embedded in social relationships and obligations.
4. Economic anthropologists examine how economic activities are influenced by factors such as kinship, religion, and power dynamics within a society.
5. The field of economic anthropology provides insights into the diversity of economic practices around the world and challenges the assumptions of Western economic models.

Review Questions

• Explain how economic anthropology differs from the traditional approach of Western economics.
  • Economic anthropology takes a more holistic and culturally-grounded approach to understanding economic behavior, in contrast to the individualistic and universalist assumptions of Western economic models. Whereas Western economics often treats the economy as a self-contained sphere, economic anthropologists examine how economic activities are embedded within broader social, cultural, and political contexts. They study alternative economic systems and logics that may not fit the assumptions of neoclassical economics, such as the role of reciprocity, redistribution, and social obligations in traditional societies.
• Describe the concept of the 'gift economy' and its significance in economic anthropology.
  • The 'gift economy' is a key concept in economic anthropology, which refers to the exchange of goods and services not based on the principles of profit or market value, but on social obligations and the maintenance of relationships. In gift economies, economic transactions are embedded in social relationships, and the exchange of gifts creates and reinforces social bonds. Economic anthropologists study how gift-giving practices shape economic behavior and decision-making, challenging the assumption that economic activities are primarily driven by individual self-interest and the maximization of utility.
• Analyze how cultural beliefs, social structures, and political institutions influence economic activities in non-Western societies, as studied by economic anthropologists.
  • Economic anthropologists examine how economic activities in non-Western societies are shaped by cultural beliefs, social structures, and political institutions, which often differ significantly from the assumptions of Western economic models. For example, they may study how kinship systems, religious beliefs, or power dynamics within a society influence the production, distribution, and consumption of goods and services. By understanding the cultural embeddedness of economic activities, economic anthropologists provide insights into the diversity of economic practices around the world and challenge the universality of Western economic theories.

Related terms

Subsistence Strategies:

The ways in which a society or culture obtains the necessary resources for survival, such as hunting, gathering, horticulture, or agriculture.

Reciprocity:

The exchange of goods or services for mutual benefit, often seen in traditional societies where economic transactions are embedded in social relationships.

Redistribution:

The process by which resources are centrally collected and then redistributed within a society, often to ensure a more equitable distribution of wealth and access to essential goods.