Subsistence economy versus conspicuous consumption

Fischer, Wolfgang Chr., and Wells, N. (2005) Subsistence economy versus conspicuous consumption. In: Fischer, Wolfgang Chr., (ed.) Re-Emergence of Street Markets: contribution to invigorate local economies. Josef Eul Verlag, Koln, Germany, pp. 5-14.

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This chapter does not have an abstract. The following is the first paragraph of the chapter.

Throughout the history of mankind large parts of the world existed in the state of a subsistence economy, that is a standard of living providing on1y the bare necessities of life, or an economy in which exchange is notable by its absence because goods and services are produced and consumed by the same families. In most instances subsistence farming was in place, namely farming which directly supports the farmer's household without producing a significant surplus for trade. Surely enlarging their production and subsequently trading their surplus to other parts of the world had developed some areas further. Nevertheless the dominant form of organising economic activities was on the level of subsistence economy, which is to secure the bare survival of the people living in a secluded economic, social and cultural environment.

Item ID: 7445
Item Type: Book Chapter (Research - B1)
ISBN: 978-3-89936-408-8
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Date Deposited: 07 Jan 2010 23:18
FoR Codes: 14 ECONOMICS > 1499 Other Economics > 149999 Economics not elsewhere classified @ 50%
14 ECONOMICS > 1402 Applied Economics > 140202 Economic Development and Growth @ 50%
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