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Econ 1020 Essay

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Below is an essay on "Econ 1020" from Anti Essays, your source for research papers, essays, and term paper examples.

Wang 1

Yuxiang “Deron” Wang

ECON 1020

March 30, 2013

        To my way of thinking, “The economic process under conditions where it is embedded in noneconomic institutions”, shows that how economic exists before modern time. The author explains that it is very difficult to identify the economic process in the early society because in a non-economic society, the concept of economic is missing, and people are too native to understand the concept of economic. However, the concept of economic does exist at the pre-modern society, but in different forms. Before modern society, the economy was largely subsistence-oriented, dependent on exchange. People exchange for each other according to their   production. For instance, Because of its geography, people in one place grow fruits, but people in another place grow wheat, by using exchange, all of them will acquire fruits and wheat. Arapesh society shows us that another form that economic activities exists. Their economic activities are not motivated by economic reasons but kinship. For example, a man will exchange his bread to another bread with his brother. So, they author shows two kinds of exchange, reciprocity and redistribution. The former is to exchange for economic reason, the latter is to exchange for non-economic reasons.

                                                              Wang 2

      In my opinion, embedded economy can be considered as a concept equivalent to “status society” . In status society, people are not yet aware of the concept of economy, the dominant of the society is the status. Status is changeless and congenital, people can not raise their status through their efforts, and people can not get rid of this bondage to build rights and obligations to themselves. They have to obey traditions and culture. For example, Arapesh society is a status society. It is everyone’s responsibility to make sure that no one is in hunger. No one really owns anything in this community, the...

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