chapter
capitalism
Pages 5

Capitalism eludes its definitions. It has been called free enterprise and defined as production for a global *market in which goods, services and labour are priced. Ownership is private and alienable and that which is owned can easily change hands in a monetary transaction. Profits are sought in market *exchanges and are made available for further investment. Such definitions tend to create a rupture in history between advanced market economies and earlier periods of time or precolonial societies geographically remote from the West. Although *economic anthropologists study capitalist phenomena, other branches of anthropology study them as well by examining such features as the cultural dimensions of the commodity or emergent lifestyles in relation to popular music in distant areas of the world.