The Sacred Economy (An Anthropological Enquiry into the Development of Economic Relations and their Social Embodiment)

All modern economic machineries are premised upon the tenets of the phenomenon of gift-exchange. Gift exchange and its constituent archetypes that have been observed in primordial societies, exist and breathe life into capitalist institutions that the post-modern and post- industrialist world is familiar with. Such parallels can be understood better when one furthers Marcel Mauss? obligations of exchange i.e. the obligation to give, the obligation to receive and the obligation to reciprocate. While upholding commitments in an economic capacity between several parties, the object of gift-exchange assumes a personality of its own wherein it exhibits an uncanny resemblance to that of its giver or receiver. It marks the beginning of social embeddedness and social embodiment of an exchange, wherein it transcends its existence as a mere reservoir of currencies. It starts exuding moments of honor, reverence and prestige, caressing its direct implications upon one?s self-concept and how one?s perceived. This phenomenon of social embodiment is especially defined by the prevalence of myths and magic, religious connotations, sacrificial processions and most significantly, divinization which translates an economic exchange into a sacred one.