The Exchange Economy?
The Exchange Economy?
This chapter looks at the exchange economy in the Was Valley, where it touches upon the presence of scarcity not in land, capital, and labor, but in items that are in short supply (e.g. diamonds). It looks at specific behaviors within the Was Valley that are considered as economic and stresses that the Wola participate more often in social exchange of objects than in purchase transaction (the latter being the activity market societies do often). This chapter also contains sections on the domains of exchange and subsistence, the level of locally produced wealth, the conversion of surplus items into exchangeables, and the production spheres. The last sections in the chapter centers on the inalienability issue, Marxism, and the individual and society antinomy.
Keywords: exchange economy, scarcity, social exchange, purchase transaction, locally produced wealth, surplus items, production spheres, inalienability issue, Marxism, antinomy
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