Browse Definitions :
Definition

gift economy

A gift economy is one in which services or goods are given without an agreement as to a suitable payment or trade to be made in return.

Instead of monetary gain, gift economies often rely on intangible rewards like a sense of contribution, community, honor or prestige. The idea is that although gifts may not be directly reciprocated, broad participation leads to a system in which people give according to their abilities and receive according to their needs.

Gift economies can also be reciprocity-based or may require a return of the original gift. In these cases the distinctions between a gift economy, a sharing economy and a barter economy become blurred. However, the concepts are not mutually exclusive and people often participate in all three simultaneously without ever really thinking about it as such.

In information technology (IT), one of the best examples of gift economy principles in action is the open source movement. Open source software, for example, is usually developed as a public collaboration and made freely available.

It can be argued that the gift economy was the first type in existence. Prehistoric social groups collaborated to feed, hunt, gather and care for the young in a loosely reciprocal gift economy.

In this video, economist James Quilligan and Charles Eisenstein, author of Sacred Economics, discuss gift economies and the Commons:

 

This was last updated in January 2014

Continue Reading About gift economy

SearchCompliance
  • compliance risk

    Compliance risk is an organization's potential exposure to legal penalties, financial forfeiture and material loss, resulting ...

  • information governance

    Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and ...

  • enterprise document management (EDM)

    Enterprise document management (EDM) is a strategy for overseeing an organization's paper and electronic documents so they can be...

SearchSecurity
  • computer forensics (cyber forensics)

    Computer forensics is the application of investigation and analysis techniques to gather and preserve evidence from a particular ...

  • multifactor authentication (MFA)

    Multifactor authentication (MFA) is a security technology that requires more than one method of authentication from independent ...

  • insider threat

    An insider threat is a category of risk posed by those who have access to an organization's physical or digital assets.

SearchHealthIT
SearchDisasterRecovery
  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

SearchStorage
  • cloud storage

    Cloud storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, ...

  • cloud testing

    Cloud testing is the process of using the cloud computing resources of a third-party service provider to test software ...

  • storage virtualization

    Storage virtualization is the pooling of physical storage from multiple storage devices into what appears to be a single storage ...

Close