This week we read a chapter from the Wealth and Poverty by Gilder G.F. where they discussed a lot on what makes up capitalism as well as how capitalism came to be in the beginning. Overall I thought this was a very interesting reading because I have always lived in a capitalistic society, but I have never really looked into being. And while I felt part of this chapter seemed a bit like propagation it was still an interesting read.
A big part of this week's article was the discussion of how gift-giving was a big reason why we have capitalism today. To start the article gave a little history lesson on how old Native American tribes used gift-giving and feasts as a form of currency
> Such gifts are either exchanged immediately for equivalent gifts or received by the beneficiaries on the condition that on a subsequent occasion, they will return the gesture with other gifts whose value often exceeds the first, but which bring about in their turn a right to receive later new gifts which themselves surpass the magnificence of those previously given(Gilder,4,2012)
This example given in the chapter is some of the oldest forms of capitalism that we can observe and learn from. I think what was being displayed is that what we do today with money is not too different from what people of years passed did with goods and foods of considerable value. The author does a great job of creating the connection between the two eras and I really appreciated how it was done. Because as someone who has made their life hospitality, it was good to see what I am good at used in a way that was in high regard as well as being a way for people in our history to create a form of the economy before currency or even trade were words with definitions. When the author went into depth about how the Native American Tribes would use their “feasts” as a way to secure gifts for the future. These tribes were not just hosting for fun as we may do now, but they were competing with each other to see who could give the most extravagant gifts that would be appreciated by those whom they were gifting them to.
Not only did I find the culture of using hospitality to get what was needed for one's tribe, but I also thought it was amazing the gift culture that was demonstrated. I am going to take this next part in a different direction, but stay with me I promise I have a point. As someone who loves gift giving there is an art to it, it is not just about giving something you want or like it is about finding out what the other person, or tribe in this case, likes and doing your best to provide it. It is about doing it so that you help someone else feel a bit better than they did before. That, however, is where the similarities end because when it comes to what the Native Americans were very much expecting those who attended their feasts to return the favor with even more valuable gifts and feasts that they would in turn be invited to.
Something else that was interesting about this chapter from The Wealth and Poverty was when the author discussed the supposed mindset of those who want a capitalistic society, and this is where I thought the chapter began to seem a bit like it was trying to make the reader think a certain way about something that at the time was good and true but now it is a bit more corrupt. The author goes on and on about how people involved in capitalism have to have a mindset of helping others when they have become successful, and maybe that was once true but now it is more like the rich get richer due to the struggle of those below them.
In conclusion, I thought that this week's reading from the book Wealth and Poverty by Gilder G.F. was very interesting and caused me to not only think about the beginning of capitalism but to also think of where capitalism has gotten us today. It is not a secret that no form of government or economic structure is perfect and while America wants everyone to think that ours is, it simply can not be the case and in my opinion, because people refuse to see that there are errors is the main reason why we will never get better or come up with a new system that helps not only the wealthy but everyone.
Works cited
Gilder, G. F. (2012). Wealth and poverty. Regnery Publishing, Inc.
