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Anthropology2_Perspectives_on_Economy - Anthro2...

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Anthro 2 17:36 Perspectives on Economy Formalism and Substantivism Markets, Redistribution, Reciprocity Neoclassical Political Economy Case Study: the “Maale” Mystery” Formalism and Substantivism Formalism: economic principles common to all societies/ cultures o Universalist Substantivism: economies “embedded” in societies/cultures o Relativist o Karl Polanyi Markets, Redistribution, Reciprocity Markets: define modern, capitalist society Redistribution: by a central governor o Complex, hierarchical societies o Tribute, taxes Reciprocity: sharing Theoretical Perspectives Neoclassical o Adam Smith type o Basic assumptions
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Self-interested rational individual Maximization Competition o Microeconomics: search for laws governing behavior Formalism Social dynamics the sum of individual choices Assumptions: freedom of choice, perfect markets
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