Marcel Mauss (1925) elucidates the deep significance of gifts and gift giving in the first chapter of The Gift. His paper explores the exchange of gifts with reference to Polynesian societies and other primitive societies. This paper will briefly review his arguments and discuss some critiques that arose from his ideas. In Polynesian groups‚ gift giving is ruled by the concept of mana. Mana is the honour and authority bestowed by wealth (p.8). A person is obliged to reciprocate so as not to lose
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Social exchange theory explains that we as individuals use economic principles when evaluating interpersonal relationships. This theory assumes that people try to maximize rewards accordingly to their investment and that people evaluate their relationships to calculate exactly how much we invest in a specific relationship and decide if our rewards are worth the costs. Based on the satisfaction with the results‚ an individual can decide if the relationship is worth continued investment. Social
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as banks‚ stock exchanges‚ and chartered trading companies. These institutions allowed merchants and investors to conduct business far away from their homes‚ increase profits‚ and reduce losses. Banks and joint-stock companies were crucial to the capitalist system. Mercantilism was the economic system in which the European states discouraged merchants from trading with foreign merchants and even used armed forces to enforce this. European states did this to monopolize the profits from their colonial
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virtue of these presents for ourselves‚ our heirs‚ executors‚ assigns and administrators that we hereby REMISE‚ RELEASE and FOREVER DISCHARGE and forever WAIVED to AMA COMPUTER LEARNING CENTER (ACLC) and ___________________________ from any or all forms of actions‚ reckoning‚ promise‚ claims‚
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derivative market. Derivatives have come into existence because nearly every business has its risks. Derivatives are used to protect against key-business risks which are beyond our control‚ such as movements in the markets of commodities and foreign exchange . Those who use derivatives as a way of managing risk are called hedgers. Martin Taylor‚ former Group Chief Executive of Barclays‚ compare risk with energy; “Risk is neither created‚ nor destroyed‚ merely passed around.” This is where the speculators
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If inflation is too high in an economy the government will introduce policies to reduce the rate as a high rate can lead to disaster for a country. If the UK has excessively high inflation rates then they will not be able to compete on the exportation of goods against other countries as we will be charging higher prices which can then lead to a contraction on UK output and we become less efficient. It is also disastrous for individuals as there will soon be a wage-inflation battle as wages need to
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COMPANIES. KOREAN COMPANIES OFFERED LOW COST AND EUROPEAN COMPANIES HAD LESS LEAD TIME & COST. 2. Spartan Heat Exchangers have formulated new business strategy to reduce customization of products‚ reduce lead time from 14 weeks to 6 weeks‚ and lower production costs. 3. Rick Coyne the materials manager needs to come out with plan to support new business strategy. Main objectives for this department are - o Reduce customer lead time for finished products from 14 weeks to 6 weeks
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Pam: What is Social Exchange Theory? Social Exchange Theory is an important social psychology concept that concerns social changes as a process of interactive exchanges between different people. This theory is often used within the business world to explain and analyze commercial transactions. < h3>What is the History of the Theory? Social Exchange Theory has strong roots in the fields of economics‚ sociology and psychology. From a historical perspective‚ early psychologists focused on the principles
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CONTENTS INTRODUCTION 1 METHODOLOGY 2 1. Nominal exchange rate (NER) 2 2. Real exchange rate (RER) 2 3. Nominal effective exchange rate (NEER) 2 4. Real effective exchange rate (REER) 3 DATA COLLECTION AND CALCULATION 4 ANALYSIS 6 1. The divergence between the NER and RER index (2001-2011) 6 2. The relationship between NEER‚ REER and trade competitiveness of the Philippines (2001 – 2011) 10 CONCLUSION 14 REFERENCE 15 INTRODUCTION The Phillippines is
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1. What is meant by the Columbian Exchange? Who was affected the most by the exchange? The Columbian exchange was meant for people to trade for the goods the Americans were overflowing with. They would trade slaves and goods either the Americans or the foreign countries didn’t have. The Americans were mostly affected by the Columbian Exchange due to the diseases the Euros had aboard on their ship and would eventually pass it on to the Americans. They would get sick and suffer from the diseases that
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