Kula ringKula, also known as the Kula exchange or Kula ring, is a ceremonial exchange system conducted in the Milne Bay Province of Papua New Guinea. The Kula ring was made famous by the father of modern anthropology, Bronisław Malinowski, who used this test case to argue for the universality of rational decision-making and for the cultural nature of the object of their effort.
Social stratificationSocial stratification refers to a society's categorization of its people into groups based on socioeconomic factors like wealth, income, race, education, ethnicity, gender, occupation, social status, or derived power (social and political). As such, stratification is the relative social position of persons within a social group, category, geographic region, or social unit. In modern Western societies, social stratification is typically defined in terms of three social classes: the upper class, the middle class, and the lower class; in turn, each class can be subdivided into the upper-stratum, the middle-stratum, and the lower stratum.
Calculation in kindNOTOC Calculation in kind or calculation in-natura is a way of valuating resources and a system of accounting that uses disaggregated physical magnitudes as opposed to a common unit of calculation. As the basis for a socialist economy, it was proposed to replace money and financial calculation. In an in-kind economy products are produced for their use values (their utility) and accounted in physical terms. By contrast, in money-based economies, commodities are produced for their exchange value and accounted in monetary terms.
BarterIn trade, barter (derived from baretor) is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists usually distinguish barter from gift economies in many ways; barter, for example, features immediate reciprocal exchange, not one delayed in time. Barter usually takes place on a bilateral basis, but may be multilateral (if it is mediated through a trade exchange).
Market socialismMarket socialism is a type of economic system involving social ownership of the means of production within the framework of a market economy. Various models for such a system exist, usually involving some mix of public, cooperative, and privately owned enterprises. The central idea is that, as in capitalism, businesses compete for profits, however they will be "owned, or at least governed," by those who work in them. Market socialism differs from non-market socialism in that the market mechanism is utilized for the allocation of capital goods and the means of production.
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