The Different Exchange Media in Society

Products, services, and information

Products, services, and information are the main exchanges of goods that individuals in societies make. Trade is essential to society’s core functions because it keeps existing social ties intact and distributes valuable resources among social classes. Exchange systems have so received a lot of attention in all of its forms (Binde 446). It appears that there are numerous different types of transactions with differences in the materials used, the goals and conditions of trade, as well as variations in frequency and scale. Additionally, a typology of interchange needs to be conceptual and methodical in order to be assessed for value and comparison (Binde 446).

Reciprocity

A common typology is a reciprocity which is a distinguishing feature of social exchange that entails the provision of benefits to people in return for rewards received. Consequently, it is perceived that the rewards gained via social mechanism are fortuitous upon welfare delivered in exchange (Molm et al. 199). Furthermore, the worth of reciprocal form of giving falls under the goods and services that individuals exchange and thereby characterized as utilitarian and interactive values (p. 200). Usually, in a generalized form, it lacks prompt or exact repayments and also, an exchange is typically a limited component of a social relationship. However, the balanced category, the terms get maintained once they are known, and repayment can get delayed to create a connection between the receiver and giver (Owen 4). However, it has the negative part that gets comprised of elements like value return that is of higher worth than received and if there are profits to be gained from certain transactions. Also, trust is not always common between people while theft is usually an extreme part of reciprocity which can get considered if there is a punishment received by the individual that stole (Owen 5-6).

Market System

The market system is also another form of exchange that involves impersonal interchanges that are usually not embedded in social associations (Amber par. 3-4). The forces of supply and demand regulate the value of goods and services involved and get to be mediated by currencies, tokens of wealth or even valuable items considered as money. In a majority of cases, it is money that is applied, and thus, if there is property it gets converted first into currency before used in exchanges (Owen 6). The implementation of currencies ensures that falsification is prevented, easily interchanged, portable and uncomplicated division. Markets are old and usually have the efficient operation by evolving the needs and wants of people in the society, and generally, appeals to peoples’ drive for well-being and survival (Amber par. 8).

Redistribution

Redistribution happens to be another form of exchange that reflects the sharing attributes of reciprocity. Usually, the various aspects involved are such that certain portions of performance get turned over to the central organization of individual, for example, traditional ways of church tithes or gifts delivered to an elder (Owen 4-5). Besides, the institution or people that obtain the quantities of resources ultimately redistribute it to others. For instance, farmers could receive safety packages during bad harvests (O’Neil A1). Therefore, this typology ensures that the institutions and individuals concerned yield some extent of dominance because in essence they have a say in determining redistribution methods, to whom and what quantities. Amber (2016), discusses the nature of communism as an example of redistribution form of exchanges in society (par. 6).

Alternative Version of Economies

Further, as an alternative version of economies, despite the availability of currencies today, the society has developed ways of measuring the amount of energy in monetary terms and therefore, has gotten adopted as a system of exchange. Usually, labor exchanges have gained popularity regarding services received by both the giver and receiver (Amber par. 8).

Works Cited

Amber, MV. “Reciprocity, redistribution, and market exchange.” Owlcation, Web. August 12, 2016. Accessed July 30, 2017

Binde, Per. ”Gambling, exchange systems and moralities.” Journal of Gambling Studies, 21(4),

(2005): 445-479.

Molm, Linda, Schaeffer, David & Collett, Jessica. ”The value of reciprocity”, Social

Psychology Quarterly, 70(2), (2007): 199-217

O’Neill, Dennis. ”Economic systems: distribution and exchange.” Web. December 20, 2008.

Accessed July 30, 2017

Owen, Bruce. ”Reciprocity, redistribution, and socially embedded economic relations.”

Introduction to Cultural Anthropology: Class 14, (2007): 1-6