15 Facts About Gift economy

Gift economy or gift culture is a system of exchange where valuables are not sold, but rather given without an explicit agreement for immediate or future rewards.

Gift economy exchange is distinguished from other forms of exchange by a number of principles, such as the form of property rights governing the articles exchanged; whether gifting forms a distinct "sphere of exchange" that can be characterized as an "economic system"; and the character of the social relationship that the gift exchange establishes.

Gift economy economies differ from related phenomena, such as common property regimes and the exchange of non-commodified labour.

Gift economy exchange is frequently "embedded" in political, kin, or religious institutions, and therefore does not constitute an "economic" system per se.

Gift economy-giving is a form of transfer of property rights over particular objects.

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Gift economy's critique was twofold: first, Trobriand Island society is matrilineal, and women hold much economic and political power, but their exchanges were ignored by Malinowski.

Gift economy argues that the goods given, like crown jewels, are so identified with particular groups, that even when given, they are not truly alienated.

Gift economy argues that total prestations are given to preserve landed estates identified with particular kin groups and maintain their place in a ranked society.

Gift economy claimed that in order for such a relationship to persist, there must be a time lag between the gift and counter-gift; one or the other partner must always be in debt.

Gift economy exchange is an exchange of inalienable objects between people who are in a state of reciprocal dependence that establishes a qualitative relationship between the transactors.

Gift economy's marriage broke up, and she integrated herself back into the community largely by giving gifts.

However, this gift economy is a "medical realm rife with potent forms of mystified commodification".

The concept of moral Gift economy has been used to explain why peasants in a number of colonial contexts, such as the Vietnam War, have rebelled.

Markus Giesler, in his ethnography Consumer Gift economy System, described music downloading as a system of social solidarity based on gift transactions.

Concept of a gift economy has played a large role in works of fiction about alternative societies, especially in works of science fiction.