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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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421 news items

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 ...
 
Reuters UK
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

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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 ...

Press Herald

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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, ...
 
Delphos Herald
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 ...

New Era

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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

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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 ...
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