Final answer:
The potlatch is a cultural adaptation to alternating periods of abundance and shortage, and it is not an example of irrational wasteful behavior.
Step-by-step explanation:
The statement is True. An anthropological analysis of the potlatch shows that it is a cultural adaptation to alternating periods of local abundance and shortage. It is not an example of irrational wasteful behavior as argued by Christian missionaries and proponents of classic economic theory.
During the potlatch, the host chief would present an abundance of gifts to the guest chief, demonstrating their wealth and power. The purpose was to challenge the guest chief to counter with an even more extravagant feast and greater trove of gifts. The competition was not about acquiring wealth, but rather about giving it away and reinforcing power among neighboring communities.
In the Pacific Northwest, wealth was determined by how much individuals shared and gave away, rather than how much wealth they possessed. A successful potlatch could confer greater status on a person or a family.