Chp 7 Economics: Working, Sharing, and Buying

________ entrepreneurs attempt to balance improving their material lives through capitalism with maintaining traditional cultural norms and practices.

________ considered the moral and spiritual dimensions of gift giving.

________- the process of taking possession of an object, idea, or relationship and making it ones own.

________ (2009) studied Wall Street investment banks using the traditional anthropological methods of participant observation and open- ended interviews.

________ is about social relationships and actions.

________ are less concerned with predicting patterns and helping people earn and maintain wealth.

________- the act of using and assigning meaning to a good, service, or relationship.

________- the difference between what people produce and what they need to survive.

________ - a(n) social institution in which people come together to exchange goods and services.

Polanyi distinguished between ________ (the branch of economics that studies the underlying logic of economic thought and action) and substantive economics (a branch of economics that studies the daily transactions people engage in to get what they need or desire)

________ (1999) studied Malay entrepreneurs in Kuala Lumpur, Malaysia.

________ is often considered inappropriate because it places a concrete value of a relationship.

________ - money that is used to buy nearly any good or service.

________- the collection of goods in a community and then the further dispersal of those goods among members.

________ focus on the concept of surplus value: the difference between what people produce and what they need to survive.

The relationship between debtor- creditor is thus full of ________ and conflict.

________ - the relative worth of an object or service that makes it desirable.

________ must be paid with the limited- purpose money of cattle, and cattle must be purchased with the limited- purpose money of brass rods.

________- the five- and- take that builds and confirms relationships.

Economist Karl Polanyi addressed Smiths assumption in The ________ (1944)

The ________ ring systematically conveyed armbands "counterclockwise "and necklaces "clockwise "(see Figure 8.6)

________ directed anthropological focus toward issues of power, domination, and the unequal distribution of wealth.

________- an economic system based on private ownership of the means of production, in which prices are set and goods distributed through a market.

________- mass- produced and impersonal goods with no meaning or history apart from themselves.

________- people who rely on goods and services not produced by their own labor.

Among ________ of southern Mexico and Guatemala, men traditionally participate in the cofradía system, a politicoreligious system that requires them to share generously with the community to gain and maintain high- status positions in the local hierarchy.

________ famously documented the Kula, an interisland exchange network in which men pass ornamental shell armbands and necklaces along to recipients on other islands.

In Melanesian and ________ societies, some objects can not be given away or separated from their original owners.

________ used a sewing pin to illustrate the division of labor.

________ follow implicit rules and should embody the relationship between giver and receiver.

________- a form of reciprocity in which the giver attempts to giet something for nothing, to haggle his or her way into a favorable personal outcome.

________- realms of transactions a community uses, each with its own set of symbolic meanings and moral assumptions.

In 1924, ________ published The Gift, a comparative study of gift exchange in non- Western societies.

________ establishes social status, reaffirms relationships, and gives people access to good and sometimes, influence.

________- the transfer of objects and services between social actors.

Moderately ________ are things like commodities: mass- produced and impersonal goods with no meaning or history apart from themselves.

________ - a(n) form of reciprocity that features a long lag time between receiving a gift and paying it back.

________- the cooperative organization of work into specialized tasks and roles.

________ explored how these institutions shape redistribution: the collection of goods in a community and then redivision of those goods among members.

________- the structured patterns and relationships through which people exchange goods and services.

________ and local knowledge are essential to successful transactions; massive financial markets depend on these factors as much as any merchant in a rural village.

________- a branch of economics, inspired by the work of Karl Polanyi, that studies the daily transactions people engage in to get what they need or desire.

The ________ illustrates a system of delayed reciprocity: a form of reciprocity in which there is a long lag time between giving and receiving.

The ________ was never formally resolved, in large part because the two sides were talking past each other.

________- money with another value beyond itself, such as gold or other previous metals, which can be used as jewelry or ornament.

________- an anthropological approach to economics that focuses on how symbols and morals help shape a communitys economy.