Question

What are the 3 patterns of economic exchange (as well as the three different types of reciprocity)? Know about the Northwest Coast potlatching activities discussed in the textbook and how they reflect as specific economic exchange principle.

Answer 1

The three patterns of economic exchange include generalized reciprocity, balanced reciprocity, and market exchange, with pot-latching activities among Pacific Northwest Indigenous peoples exemplifying competitively balanced reciprocity. Reciprocity is a form of social exchange that mirrors relationships, while market exchange is transaction-based, often involving money.

Step-by-step explanation:

1. Patterns of Economic Exchange and Reciprocity:

The three patterns of economic exchange are generalized reciprocity, balanced reciprocity, and market exchange. Generalized reciprocity is characterized by the sharing of resources without immediate or specific returns, often observed in familial or tight-knit group settings. Balanced reciprocity involves more direct exchanges of goods or services with an expectation of a return of equal value, commonly seen amongst friends and acquaintances. Market exchange is a transactional form dealing primarily with strangers, where goods and services are exchanged primarily based on monetary value.

2. Pacific Northwest Potlatching Activities:

The practice of pot latching among the Indigenous peoples of the Pacific Northwest, such as the Haida, Kwakiutl, and Tlingit, reflects a form of competitive balanced reciprocity, where chiefs host feasts to demonstrate wealth and social status by giving away valuable goods, sometimes extravagantly. A successful potlatch enhances one's reputation, cementing social hierarchies and redistributing resources throughout the community.

3. Defining Reciprocity and Market Exchange:

Reciprocity refers to the mutual exchange of goods or services, where parties involved maintain a social relationship. Market exchange, meanwhile, is a form of economic activity where goods and services are traded, often facilitated by money, which is a standard medium of exchange in most capitalist societies. Money, while necessary for facilitating market exchanges, can also express conflicted notions of morality, separating the social bond inherent in reciprocal exchanges from the more impersonal nature of market transactions.