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"Subsistence" redirects here. For the Catholic ecclesiological doctrine of Vatican II, see "Subsistit in".

A subsistence economy is a non-monetary economy which relies on natural resources to provide for basic needs, through hunting, gathering, and subsistence agriculture. "Subsistence" means supporting oneself at a minimum level; in a subsistence economy, economic surplus is minimal and only used to trade for basic goods, and there is no industrialization.[1][2]

In the history of the world, before the first cities, all humans lived in a subsistence economy. As urbanization, civilization, and division of labor spread, various societies moved to other economic systems at various times. Some remain relatively unchanged, ranging from uncontacted peoples, to poor areas of developing countries, to some cultures that choose to retain a traditional economy.

Capital can be generally defined as assets invested with the expectation that their value will increase, usually because there is the expectation of profit, rent, interest, royalties, capital gain or some other kind of return. However, this type of economy cannot usually become wealthy by virtue of the system, and instead requires further investments to stimulate economic growth. In other words, a subsistence economy only possesses enough goods to be used by a particular nation to maintain its existence and provides little to no surplus for other investments.[citation needed]

Strategies[edit]

  • Pastoralism, the raising of grazing animals:
    • Pastoral nomadism — all members of the pastoral society follow the herd throughout the year.
    • Transhumance or agro-pastoralism — part of the society follows the herd, while the other part maintains a home village.
    • Ranch agriculture — non-nomadic pastoralism with a defined territory.

See also[edit]

References[edit]

  1. ^ http://www.businessdictionary.com/definition/subsistence-economy.html
  2. ^ http://www1.umn.edu/humanrts/edumat/sustecon/others/subsistence.htm Chief Seattle to President Pierce regarding sale of land

Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Subsistence_economy — Please support Wikipedia.
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13 news items

ABC Online

ABC Online
Sun, 28 Sep 2014 16:52:54 -0700

People toiling in a subsistence economy don't have the luxury of feeling bored. Technology has been another key factor in the development of boredom. The mechanical clock, developed in the 13th century, made time visible, measurable and capable of ...
 
CryptoCoinsNews
Wed, 24 Sep 2014 10:55:26 -0700

Yes, that's right, a subsistence economy, an economy where you are always one paycheck away from starvation. Such economies are ideal for the total control of dependent populations, but do they really serve the economic interests of anyone other than ...
 
AllAfrica.com
Mon, 22 Sep 2014 03:07:30 -0700

The Project aims to enhance commodity market development aimed at transforming the agricultural sector from a traditional subsistence economy to a modern market oriented commercial sector with well integrated food chains and a viable agro-processing ...

Al Jazeera America

Al Jazeera America
Fri, 12 Sep 2014 03:07:30 -0700

Securities and Exchange Commission filings from all three megachains acknowledge the risks of superintending a subsistence economy. As Family Dollar reports, “slow job growth for our core customer resulted in an increased focus on basic needs and a ...
 
The Conversation UK
Sun, 31 Aug 2014 22:33:00 -0700

Saddam Hussein targeted water resources during the Iran-Iraq War and his oppression of the Marsh Arabs in southern Iraq during the 1990s centred on the drainage of 6,000 km2 of wetlands, destroying a subsistence economy perhaps 10,000 years old.
 
Perspective (press release)
Thu, 28 Aug 2014 07:03:45 -0700

Worse still, little or nothing is done to address the nutritional concerns of the quarantined populaces in a country of a largely subsistence economy—eat all to go hustle—which has been the order of the day. In the case of over 70,000 people in West ...

Rappler

Rappler
Wed, 03 Sep 2014 05:11:15 -0700

The majority of the population is still living in rural areas (75% of the population) and involved in a subsistence economy, struggling to have: adequate nutrition, access to proper education and health care. To build a sustainable local economy Timor ...
 
Sydney Morning Herald
Fri, 05 Sep 2014 00:07:30 -0700

Outside a few oil production enclaves, South Sudan's 11 million people live in a largely undeveloped, subsistence economy. The median age is just 18 years and about a third of the population is aged less than 10. South Sudan's gross domestic product in ...
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