(noun) An economy that depends on nonmarket mechanisms such as reciprocity and redistribution instead of money as a means of production and exchange.
Example: Hunting and gathering groups.
Audio Pronunciation: (sub·sis·tence e·con·omy)
Download Audio Pronunciation: subsistence economy.mp3
- Plural: subsistence economies
- Subsistence economies typically meet the minimum needs of the population and but do not create a surplus for trade. Groups that have subsistence economies typically rely on simple technology such as digging sticks and have minimal specialization in their division of labor.
- Once called natural economy but now rarely used because of the problematic nature of the word “natural.”
- Dobbin, Frank. 2004. The New Economic Sociology: A Reader. Princeton, NJ: Princeton University Press.
- Ensminger, Jean. 2002. Theory in Economic Anthropology. Walnut Creek, CA: AltaMira Press.
- Ertman, Martha M., and Joan C. Williams. 2005. Rethinking Commodification: Cases and Readings in Law and Culture. New York: New York University Press.
- Fligstein, Neil. 2001. The Architecture of Markets: An Economic Sociology of Twenty-First-Century Capitalist Societies. Princeton, NJ: Princeton University Press.
- Granovetter, Mark, and Richard Swedberg. 1992. The Sociology of Economic Life. Boulder, CO: Westview Press.
- Guillén, Mauro F. 2002. The New Economic Sociology: Developments in an Emerging Field. New York: Russell Sage Foundation.
- Mingione, Enzo. 1991. Fragmented Societies: A Sociology of Economic Life Beyond the Market Paradigm. Oxford, United Kingdom: Basil Blackwell.
- Plattner, Stuart. 1989. Economic Anthropology. Stanford, CA: Stanford University Press.
- Polanyi, Karl. 1944. The Great Transformation. Boston: Beacon Press.
- Smelser, Neil J., and Richard Swedberg. 2005. The Handbook of Economic Sociology. 2nd. ed. Princeton, NJ: Princeton University Press.
- Steiner, Philippe. 2011. Durkheim and the Birth of Economic Sociology. Princeton, NJ: Princeton University Press.
- Swedberg, Richard. 1998. Max Weber and the Idea of Economic Sociology. Princeton, NJ: Princeton University Press.
- Weber, Max. 1968. Economy and Society: An Outline of Interpretive Sociology. New York: Bedminster Press.