Viewing page 29 of 64

This transcription has been completed. Contact us with corrections.

42

if you have lots of pearls but are of no use, i.e. Trobriands, what happens when Westerners come along who want to pay for pearls 

in Pacific islands formerly many excess unused coconut trees & then copra market came along ditto when [[Ch.?]] began looking for birdnests [[strikethrough]] when [[/strikethrough]] which they willing to pay for in wt in gold


43

Feb 26 - thus far Alice has been giving us concepts from formalist theory

defined: decision- making certain theories about motive a variety of wants & limited means & try to use those limited means to satisfy as many wants as poss.

economics not a kind of action but a dimention
we are labor & everyth. we do an allocation of our own labor

are those who say the above process takes place only in advanced market economies; they argue that in small isolated society wants limited because not aware of outside world thru trade & means may be suff. to fulfill all wants, hence no scarsity
Alice doubts that this so - ultimately your time always a scarsity because can't be in 2 places at once (fish & berries)
can overcome thru trade & coop., but trade & coop require energy
or may have last record collection,