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Economics

Political Economy of Gift Exchange and Reciprocity

Quick fact

In some societies, like the potlatch of the Pacific Northwest, a chief would literally burn or give away enormous wealth. The one who gave away the most, even destroying valuables, gained the highest status—showing that in gift economies, losing is winning.

Why this is interesting

You've probably given a birthday gift without a receipt. But what if that gift was a political tool, and the act of giving could make you a leader?