"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.
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.
- 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:
- 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.
- A parasitical society, subsisting on the produce of a separate host society
- ^ http://www.businessdictionary.com/definition/subsistence-economy.html
- ^ http://www1.umn.edu/humanrts/edumat/sustecon/others/subsistence.htm Chief Seattle to President Pierce regarding sale of land
The Foundations of Wealth (Part 1 of 3)
Teacher Guide: http://econworks.org/wp-content/uploads/2013/06/Teachers-Guide-The-Foundations-of-Wealth.pdf Izzit.org presents The Foundations of Wealth. The...
Bill Gates: How does a subsistence farmer affect GDP?
Bill Gates tells AEI that health, mortality, education, freedom, and other non-monetary factors can offer a much better evaluation of a poor nation's growth.
Dayton City Commission Independent Candidate Forum - Tackling the Subsistence Economy Problem
The second of four Dayton City Commission Independent Candidate question and answer forums was held Thursday at Ghostlight Coffee on Wayne Avenue in Dayton. ...
FROM ENGLISH TO SPANISH = subsistence economy
FROM ENGLISH TO GERMAN = subsistence economy
Five Interwoven Economies: Subsistence, Gift, Exchange, Planned, and Theft
This video presents a simplified education model about socioeconomics and technological change. It discusses five interwoven economies (subsistence, gift, ex...
A traditional economy is an original economic system in which traditions, customs, and beliefs shape the goods and the products the society creates. Countrie...
The Decline of the West | Oswald Spengler
Spengler's Civilization Model http://www.thefullwiki.org/Spengler's_civilization_model http://en.wikipedia.org/wiki/Spengler's_civilization_model Goethe's Fa...
Mobile University - Development Models- Economic Transformation እድገትና የምጥን ለውጦች p. 3
Transformations i. Economic, Social & Cultural I. Economical Transformation 1.1 From Subsistence Economy to Industrial. Subsistence farming is production for...
Hazel Henderson at World Future Society 2014
It is my pleasure to be able to get an interview with Hazel Henderson, a futurist and an economic iconoclast. Ms. Henderson has worked in television and had ...
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 ...
Mon, 24 Nov 2014 07:45:00 -0800
The Iñupiat rely on a subsistence economy, eking out a living on hunting, fishing, berry-picking and food stamps. Seal carcasses litter the town. Most homes have no running water. The island, just a quarter-mile wide, has lost hundreds of feet of ...
The Seattle Times
The Seattle Times
Fri, 21 Nov 2014 16:14:22 -0800
It is no exaggeration that without freight rail, the Pacific Northwest would be a sparsely populated backwater with only a subsistence economy. Operators of inland farms, forests, mines and manufacturing plants simply could not get products to customers.
The Newark Advocate
Fri, 21 Nov 2014 13:45:00 -0800
Haiti seems to need everything and gets little other than charity as the people struggle with a subsistence economy. Which includes, apparently, assembling men's suits for what is no doubt the cheapest price the supplier could get away with paying. A ...
Sun, 16 Nov 2014 01:00:00 -0800
He looked around the room, noting that the tribe is only a couple of generations away from a subsistence economy in which everyone was cared for by the community. The old ways are still “within the living memory of many of the people in this room, ...
Tue, 11 Nov 2014 14:07:30 -0800
“Every bit of new information we're gathering from Upward Sun and other sites really show a sophisticated subsistence economy,” said University of Alaska Fairbanks researcher Ben Potter, whose team led the dig. Potter details the 2013 discovery in a ...
Thu, 20 Nov 2014 23:56:43 -0800
As the late struggle stalwart, Ruth First, documented in her book, “South West Africa”, “The crowding of Africans into small Reserves has undermined their subsistence economy, while taxes have only increased their impoverishment. “Labour regulations ...
Big News Network.com
Big News Network.com
Wed, 12 Nov 2014 18:26:15 -0800
"Every bit of new information we're gathering from Upward Sun and other sites really show a sophisticated subsistence economy," said Potter, the leader researcher. He said that discoveries show the care Native American would give to the burials and how ...
Oops, we seem to be having trouble contacting Twitter
Digplanet also receives support from Searchlight Group.