What is a gift economy?

Dear student, do you love gifts? Well, who doesn’t?

We often give or receive gifts on special occasions but have you heard about the gift economy?

No problem if you haven’t because in this lesson you are going to learn about it.

Gift Economy

Gift economy is a form of exchanging things. Here goods and services are given freely without the exchange of money or expectations of a return or reward. Gift economy is different from an exchange or barter system because there are no expectations of things or goods in return. Transactions within a gift economy are unselfish in nature; try to find the value of goods and services beyond its market value or price, while trying to meet the needs of others.

Over the past few years, the selflessness and gift-giving are spreading. The gift economy has worked efficiently. One gift to another has started a chain of “passing it forward.” Gift economy is not a single transaction just like many market-based economies but a series of many transactions of gifting and regifting. In its right implementation all the needs can be met within a gift economy.

Advantage of Gift Economy

The gift economy reflects an optimistic perspective, encourages the attitude of compassion a, favours a viewpoint of comparative abundance over scarcity, and is based on faith that others will also be motivated to favour the common good over individual advantage.

Therefore, gift economy is a very kind and delightful step which will strengthen our relationships, promote humanity and kindness and will fill us with immense joy and happiness that comes from giving.

Try to read and watch more about gift economy, explain your friends too and shape up your opinion about it.

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