Gift economy

Definition of Gift economy

Gift economy is a process where valuables are not sold, but rather given without settling on an agreement with the intent of immediate or future rewards. In a gift economy, giving things are not made because of simple profit or gain, the prior purpose is to build a relationship.

Books on Gift economy

Book 1 –

Horace and the Gift Economy of Patronage By Phebe Lowell Bowditch (published by University of California Press, 2001)

Book 2 –

Sacred Economics: Money, Gift, and Society in the Age of Transition By Charles Eisenstein (published by North Atlantic Books, 2011)

How Gift economy works?

In a gift economy, it is said that the ones who give to others in group and community acquire social status and backing in needed time. Most economies involve both commercial aspects like, paid work as well as gift aspects such as volunteer or unpaid work.

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