Abstract

This inaugural address presents a theory of gift exchange within market societies. Social scientists tend to see the market and the gift as two mutually opposed spheres of exchange. Market exchange is anonymous and businesslike; the economic value of goods and services is measured explicitly in a market transaction and needs to be compensated right away by means of a monetary equivalent. Gift exchange, by contrast, is associated with relatively intimate relations like friendships or family ties. The value of gifts is usually not measured explicitly, although the expectation exists that the gift is reciprocated in the future.Instead I argue that both exchange system should not be seen as mutually exclusive. Within markets, a variety of gifts is permanently being exchanged between business partners. In four different ways, this rich gift exchange serves to stabilize inherently instable markets. They contribute to creating trust relationships as well as loyalty between transaction partners, which remedies uncertainty and tames uncontrolled competition; they assist consumers in valuing new goods; moreover they can make disreputable exchange in goods with a strong symbolic or ethical value more legitimate.

How to Cite:

Velthuis, O., (2019) “Geven om geld: Waarom de marktsamenleving giftrelaties nodig heeft”, Sociologie 15(1), 69–86. doi: https://doi.org/10.5117/SOC2019.1.004.VELT