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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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6 news items

 
The Ecologist (blog)
Tue, 02 Sep 2014 03:52:30 -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.
 
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.
 
The Conversation UK
Sun, 31 Aug 2014 22:15:00 -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.
 
National Journal
Wed, 27 Aug 2014 09:51:20 -0700

"The Greek peasant participated directly in a market, rather than a subsistence, economy. Land and agricultural products were commodities to be bought and sold," they write. "The Greek villager was already eager to emulate consumer and city lifestyles.
 
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 ...
 
Politicsweb
Mon, 25 Aug 2014 11:19:23 -0700

Ridiculous is the absurd recent boasting by the inscrutable Manheru of the deliberate destruction of the Rhodesian economy by ZANU (PF) and its replacement by a subsistence economy fuelled by toxic patronage and corruption. Zimbabweans are poorer ...
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