economic anthropology
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by
Steven
N.
Durlauf
and
Lawrence
E.
Blume
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Abstract
Economic anthropology is an empirical science that describes production, exchange and consumption cross-culturally. All societies have economies, but they are variable. Anthropologists evaluate the operations of individual economies and the applicability of Western theories to these cases. Some economic processes work broadly; for example, strategic decision-making, the law of competitive advantage, and calculations of transaction costs help explain many observed patterns. Human economies, however, are often structured as intertwined sectors with distinctive processes. Differences observed in productivity, specialization, institutional structure and social motivations across history and across modern societies are of theoretical significance when constructing the limits of general theory.
Keywords
behavioural economics; capitalism; cognitive ability; commodity chains; division of labour; domestic mode of production; dual economies; economic anthropology; formalism; gift exchange; household production; hunting and gathering economies; identity; institutional economics; markets; Polanyi, K.; political sector; postmodernism; prestige economy; rationality; reciprocity; social networks; social sector; specialization; staple finance and wealth finance; subsistence sector; substantivism; surplus; technological progress; transactions costs; Weber, M.
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How to cite this article
Earle, Timothy. "economic anthropology." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 21 May 2013 <http://www.dictionaryofeconomics.com/article?id=pde2008_E000009> doi:10.1057/9780230226203.0426

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