"An economy directed to basic subsistence (the provision of food, clothing, shelter) rather than to the market."
Discusses how human societies acquire food and other resources, and how this shapes their economies.
Hunter-Gatherer Societies: These are societies that rely primarily on hunting, fishing, and gathering wild plants for food. They typically have low population densities and are highly mobile.
Horticulture: This is a form of subsistence agriculture that involves small-scale cultivation of crops without the use of intensive labor or capital.
Agriculture: This is a form of subsistence strategy that involves the large-scale cultivation of crops using intensive labor and capital.
Pastoralism: This is a subsistence strategy that revolves around the herding of livestock, such as cattle, goats, sheep, or camels.
Industrialization: This is a sociological and economic process that transforms traditional agricultural societies into modern industrial societies.
Capitalism: This is an economic system in which the production and distribution of goods and services are largely driven by private ownership and profit motives.
Socialism: This is an economic and political theory that advocates for the collective ownership of the means of production, distribution, and exchange.
Colonialism: This is a political and economic process that involves the colonization and exploitation of territories by foreign powers.
Globalization: This is the ongoing process of economic, political, and cultural integration across the world.
Economic Anthropology: This is the study of how human societies organize and sustain themselves economically. It draws on insights from anthropology, economics, and other social sciences.
Foraging: Foragers rely on natural resources such as wild fruits, berries, nuts, and hunting animals for their subsistence. They move frequently in search of resources and do not have a permanent residence.
Horticulture: Horticulturists grow food crops with simple tools like hoe and digging sticks. They use slash and burn methods for cultivation, and the land is left unused for a long time to return to its natural state.
Agriculture: Agriculturists use more advanced tools like ploughs and pesticides to grow crops on a large scale. They also domesticate animals and use them for farming activities.
Pastoralism: Pastoralists depend on domesticated animals like cows, goats, and sheep for their subsistence. They move frequently in search of resources, and the animals provide food, clothing, and shelter.
Fishing: Fishing communities rely on catching fish and other aquatic resources for their subsistence. They use various methods such as nets and hooks to catch fish.
Industrialism: Industrialism involves large-scale manufacturing and production of goods with the help of advanced machinery and technology.
Capitalism: Capitalism involves buying and selling goods for profit. People invest money in businesses and trade to earn profits.
Gross National Happiness: Gross National Happiness is a subsistence strategy that focuses on social and ecological well-being alongside economic development. It emphasizes community values and sustainability over material wealth.
Sharing economy: The sharing economy involves sharing resources and assets like cars, homes, and bicycles among communities to save money and reduce waste.
Green economy: The green economy emphasizes sustainability and clean energy. It uses eco-friendly resources and technologies to ensure environmental sustainability while also promoting economic growth.
Gift economy: The gift economy involves giving and receiving gifts without expecting anything in return. It has deep roots in many traditional societies worldwide.
Commodity economy: The commodity economy involves buying and selling raw materials such as oil, gas, and minerals for profit. It is prevalent in extractive industries like mining and oil drilling.
"Henceforth, 'subsistence' is understood as supporting oneself at a minimum level."
"Relies on natural resources to provide for basic needs through hunting, gathering, and agriculture."
"Economic surplus is minimal and only used to trade for basic goods."
"No, there is no industrialization."
"In hunting and gathering societies, resources are often if not typically underused."
"Before the first cities, all humans lived in a subsistence economy."
"Urbanization, civilization, and division of labor spread, leading to the transition to other economic systems."
"Yes, some cultures choose to retain a traditional economy."
"Capital can be generally defined as assets invested with the expectation that their value will increase."
"The expectation of profit, rent, interest, royalties, capital gain, or some other kind of return."
"No, this type of economy cannot usually become wealthy by virtue of the system."
"Further investments are required to stimulate economic growth."
"Little to no surplus for other investments."
"Surplus capital is commonly invested in social capital such as feasting."
"A subsistence economy is directed to basic subsistence, while a market-based economy focuses on the market."
"Hunting, gathering, and agriculture to satisfy basic needs."
"Uncontacted peoples, marginalized areas of developing countries, and cultures that choose to retain a traditional economy."
"Industrialization is absent due to the minimal economic surplus and focus on basic needs."
"Supporting oneself at a minimum level necessary for existence."