5.Money and Wealth

Question 1

What is general purpose money?

Answer 1

This form of money is an arbitrarily valued medium of exchange which is used in market economies. Everyone accepts this mode of payment and the value of its payment is standardized.

Question 2

What forms of money exist?

Answer 2

1. General purpose money

2. Special purpose money

Question 3

What is special purpose money?

Answer 3

This form of money consists of objects that operate as a medium of exchange but only in limited contexts. Only certain goods can be acquired with a specific form of special purpose money.

Question 4

What effect has the introduction of general purpose money in societies had?

Answer 4

1. Exchange between spheres of subsistence, prestige and wives are uncommon because each is characterised by its own rules and materials of exchange (special purpose money). Introduction of general purpose money through colonial influence means that the spheres are pulled apart. (Bohannan 1959).
2. Kinship is affected as ties of reciprocity are valued less and self-interest is valued more. (Bloch)

Question 5

What are the models on the nature of work?

Answer 5

1. Western view is that work itself is not inherently good but that it is essential to provide for living/reap benefits (Harris 2007)
   a) Aristotle - leisure required to obtain virtue
   b) Christianity - work is a spiritual value since it prevents us committing sin and expiates sinfulness
2. Laymi performance of work reveals that work has value in itself since it is culturally important, even to the extent that it is ‘sacrilised’ (Harris 2007).

Question 6

Will more money make us happier?

Answer 6

Evidence suggests that above 20,000 dollars inc money does not equal inc happiness because of (Stafford 2008):

1. Other important factors.
2. People’s expectations always rise relative to what they have.
3. People psychologically adjust to wealth quicker than other aspects of life.

Question 7

What have anthropologists had to say about ‘affluence’?

Answer 7

(Sahlins 1972)

1. Hunter and gatherer societies have been affluent against popular perception.
2. The ‘Economic Man’ is a bourgeoise construction - not universal.
3. Capitalist economics assumes that there is always a discrepancy between the means and the ends - assumption arises that scarcity existed in hunter and gatherer societies.
4. Hunter and gatherers have scarce wants (health) and plentiful means (excess, diverse foods and lots of leisure time)