TED-Ed: What is a gift economy? - Alex Gendler

The video explores the concept of a gift economy, where gifts are exchanged to build social ties and obligations rather than for financial gain. It discusses historical examples like the Kula ring and potlatch feasts, highlighting how these systems foster social wealth. The video also examines modern instances, such as Burning Man and open-source communities, where gift economies coexist with market systems. It challenges the notion of a 'free gift' by emphasizing the social bonds created through giving and reciprocity.

What is a key difference between a gift economy and a market economy?

• Gift economies require immediate repayment of gifts.

• Market economies do not involve any form of exchange.

• Gift economies focus on relationships between people, not things.

• Gifts are always exchanged for money in a gift economy.

In a gift economy, what might be a consequence of repaying a gift immediately?

• It strengthens the social relationship.

• It is seen as a sign of respect.

• It may end the social relationship.

• It increases the giver's social prestige.

How do gift economies differ from barter systems?

• Gifts are given with preconditions in gift economies.

• Barter systems do not involve any form of exchange.

• Barter systems involve social obligations.

• Gift economies involve voluntary reciprocity.

Which of the following is an example of a modern gift economy?

• A supermarket sale

• A stock market exchange

• An open-source software community

• A real estate transaction

What is a potential benefit of gift economies in a commercialized world?

• They eliminate the need for money.

• They strengthen social bonds through giving.

• They ensure equal distribution of wealth.

• They replace all market transactions.