Gift economy  

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Train wreck at Montparnasse (October 22, 1895) by Studio Lévy and Sons.
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Train wreck at Montparnasse (October 22, 1895) by Studio Lévy and Sons.

A gift economy is an economic system in which goods and services are given without any explicit agreement for immediate or future quid pro quo. Typically, a gift economy occurs in a culture or subculture that emphasizes social or intangible rewards for generosity: karma, honor, loyalty or other forms of gratitude. In some cases, simultaneous or recurring giving serves to circulate and redistribute valuables within a community. This can be considered a form of reciprocal altruism. Sometimes there is an implicit expectation of the return of comparable goods or services, political support, or the gift being later passed on to a third party. However, in what is considered to be in the true spirit of gift economics, many times giving is done without any expectation of reciprocation.

The concept of a gift economy stands in contrast to a planned economy or a market or barter economy. In a planned economy, goods and services are distributed by explicit command and control rather than informal custom; in barter or market economies, an explicit quid pro quo — an exchange of money or some other commodity — is established before the transaction takes place. In practice, most human societies blend elements of all of these, in varying degrees.

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Unless indicated otherwise, the text in this article is either based on Wikipedia article "Gift economy" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on original research by Jahsonic and friends. See Art and Popular Culture's copyright notice.

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