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.
I very much enjoyed reading your essay. I think you brought up some very interesting points that I did not think of.
This is very interesting because I think we still do this today. I love giving gifts, but I hate receiving them. I enjoy seeing pure joy on people's faces when they open a gift that will enjoy. Like the tribes, I am always trying to give something extravagant. However, unlike them, i tend to try and outdo myself. I like to one up gifts i've given in past years. I think it is interesting that the Native Americans had feasts and parties often that are similar to what we would consider Christmas. You also mentioned that the Native Americans expected the favor to be returned. Muck like Christmas in America. It is customary to exchange gifts with someone who also bought a gift for you. It is very different from say a birthday. Where one person receives gifts without the expectation of returning the favor. However, you also mentioned
This is something that I thought was very interesting. It seems to me that they would host these feasts to give gifts, but more so to receive even better ones.
I agree with your statement that it is much different nowadays then it was then. You stated that the rich get richer due to people below them struggling. I do believe that this is true to some degree. Some rich people definitely have gained more money because of the struggles of others. However, many people become rich because of their own hard work. Steve Jobs, Ralph Lauren, and even Oprah Winfrey started out with nothing and become rich because of their talents and drive. Like you said though, that is not the case for everyone. And I did sort of feel like the author was trying to make us believe a certain thing as well.
Overall, I think you did a great job writing this and I enjoyed it. This weeks reading was very interesting to me as well. It is very cool to see how some things in our society change over time and how culture, government, economy, and capitalism affect traditions over time.
You made a good point when you referenced the quote regarding gifts. I like how the author brought that similarity to the reader's attention, as it proves that different variations of capitalism have existed across time, which you stated as your supportive evidence to the quote. I also like how you related the quote to your current ambitions in the realm of hospitality. The essay pieces together better when the writer is able to relate an abstract concept to their own life and share personal experiences for the reader to see. I do, however, believe you rambled on a bit too much about your personal experiences in hospitality and made the middle segment of the essay a bit too informal by using phrases like "hear me out," and long run-on sentences. Despite those issues, the essay clearly highlighted your opinions on the topic and displayed that you read the material. You also made the claim
“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.”when referencing the similarities of gift giving. You claimed there is a large difference in these traditions. I do not see much of difference between Native American gift giving and current capitalism other than the obvious difference in means of exchange. People are always looking for something in return, whether a Native American gave a sheep to someone as a present for future security or if a modern human gave a gift to a friend in exchange for their loyalty. Value structures change across time and people often give upfront for a possible reward in the future. Capitalism, as described in the chapter, is giving someone a product or service that the individual values more than what they are providing the entrepreneur. The exchange leaves both parties better off than before, as each person values the exchanged goods/services differently. The same can be applied to early forms of gift giving. Even in your passion of hospitality, you are giving something to people in exchange for at the very least personal positive emotions. In an alternate world, if you felt terrible about giving to someone, even if it was the right thing to do, would you? Even then, you would do it for "meaning" and "purpose," which is an exchange of values in itself.
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