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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.
  • Distribution and exchange:
    • Redistribution
    • Reciprocity — exchange between social equals.
    • Potlatching — a widely studied ritual in which sponsors (helped by their entourages) gave away resources and manufactured wealth while generating prestige for themselves.
    • LETS — Local Exchange Trading Systems.

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.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.

594 news items

 
Executive Intelligence Review (EIR)
Fri, 05 Feb 2016 21:48:45 -0800

And by keeping two-thirds of world on a subsistence economy, you will never achieve that goal! Zepp-LaRouche: Briefly on this propaganda against China, it is really absurd, because the United States manipulates statistics in such a way that is ...

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 ...

SaharaReporters.com

SaharaReporters.com
Tue, 02 Feb 2016 19:09:00 -0800

You are here talking about Ondo State while your Ekiti (I assume you are Ekiti because people like you who are vociferous in the defense of Fatose and will abuse anybody criticizing him are from Ekiti) is living in 12th century subsistence economy. All ...

nation.lk - The Nation Newspaper

nation.lk - The Nation Newspaper
Wed, 03 Feb 2016 02:41:15 -0800

... the country self-sufficient in maize, soya beans, chilies, onions, and potatoes by 2018 through crop diversification and productivity improvements and graduate into an agri-business from subsistence economy whereby we will access export markets by ...

KUOW News and Information

KUOW News and Information
Thu, 28 Jan 2016 09:39:51 -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 ...

Huffington Post

Huffington Post
Mon, 25 Jan 2016 04:56:15 -0800

... mobile and urban developed economy (with all its sophisticated trappings of technology, infrastructure, high-quality private education and health services); and the other a marginalised, rural or peri-urban, African and young, unskilled ...
 
Economic Times
Thu, 28 Jan 2016 00:58:49 -0800

New Mizoram govt policy 'The Way Forward': Ruling MPCC. By PTI | 28 Jan, 2016, 02.03PM IST. Post a Comment. READ MORE ON » subsistence economy | Mizoram Pradesh Congress Committee | market economy | gross state domestic product | Economic ...

National Observer

National Observer
Tue, 26 Jan 2016 13:33:45 -0800

A major oil spill would obliterate or permanently alter precious marine ecosystems in the Burrard Inlet, he argued, including the shellfish, herring, and salmon the First Nation relies on for cultural ceremonies and subsistence economy. The increased ...
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