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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]

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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690 news items

Newsweek

Newsweek
Wed, 27 Apr 2016 05:56:15 -0700

Before the discovery of oil, Saudi Arabia was a desperately poor country, with a largely subsistence economy and depending on the annual pilgrimage to Mecca and Medina. The modern state was assembled through a series of conquests between 1902 and ...

CNBC

CNBC
Thu, 21 Apr 2016 07:04:38 -0700

They operate in a near-cashless, subsistence economy, anchored by fishing and hunting. This is a vastly different quality of life than a worker at Costco in Anchorage, or an employee at one of the city's malls that feature big brands like Sephora ...

Calcutta Telegraph

Calcutta Telegraph
Mon, 25 Apr 2016 08:49:00 -0700

If a capitalist sector emerges in such a subsistence economy, it can draw workers at subsistence wage; as long as this wage is lower than marginal product of labour, the capitalist sector will make profits, reinvest them, and expand. The expansion can ...
 
AllAfrica.com
Wed, 20 Apr 2016 01:37:30 -0700

Marijuana farming sustains entire communities in the rural Eastern Cape, an important cash crop in a deeply impoverished subsistence economy. It has also been illegal under South African law since 1929. For more than 60 years the state has conducted ...

Scroll.in

Scroll.in
Sun, 17 Apr 2016 20:05:39 -0700

For those who believe in development, these are the impediments of a subsistence economy. It is not conducive to tourism. In the Malnad where I grew up, the thirsty traveller who asked for water was given buttermilk. Nowadays no one travels on foot.

Daily Maverick

Daily Maverick
Tue, 12 Apr 2016 15:18:45 -0700

Marijuana farming sustains entire communities in the rural Eastern Cape, an important cash crop in a deeply impoverished subsistence economy. It has also been illegal under South African law since 1929. For more than 60 years the state has conducted ...

New Vision

New Vision
Fri, 31 Oct 2014 00:18:45 -0700

Augustus Nuwagaba managing consultant of REEV Consult International a poverty eradication consultant said 68% of Uganda's population is still non- monetized, with a large subsistence economy. “The main stay of the economy which is agriculture ...

NPR

NPR
Thu, 28 Jan 2016 07:43:13 -0800

Aisholpan's family members are nomadic Kazakh herders of the Altai mountains region who base their subsistence economy on herding cattle and goats. An essential supplement to the herders' livelihood comes from the practice of training golden-eagle ...
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