Exchange, gift, capital, labour and market

Exchange is how societies circulate goods, services and obligations, and it is never purely economic. A gift creates a relationship, capital concentrates power, labour produces value, and markets organise prices through rules and trust. This chapter compares gift, barter and market exchange, and explains why a wedding gift, a wage and a share price follow different social logics, even though all involve transfer of value. It also asks who sets the terms of exchange and who gains when a transfer is called a gift, a wage or a sale.