Gifts and gift economies

Posted: 21 July 2016 in Uncategorized
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Apparently, Gravity Payments CEO Dan Price [ht: sm] recently received a gift from his employees, a new Tesla.

Price and Gravity gained fame last year when the young CEO announced to much fanfare a plan to raise pay to $70,000 a year for all employees, after a phase-in period. Price said he would also make $70,000, dropping his salary from more than $1 million annually. . .

Gravity spokesman Ryan Pirkle said the gift was thought up and organized by Alyssa O’Neal, an employee who he said was one of the “most impacted” by the raise.

A gift for a gift. Price decided to raise the salaries of his employees, and they reciprocated by buying him a new car.

It’s a heart-warming story. But, as I wrote a year ago,

I’m not prepared to celebrate Price as a “good capitalist,” as against all the “bad capitalists” who are choosing to increase the gap between average workers’ pay and the enormous payments to CEOs.

My point is a actually somewhat different: first, that capitalists—whether in Columbus or Seattle—do lots of different things, and presuming they follow a simple rule (whether profit-maximization as in the usual neoclassical story, or the accumulation of capital in many heterodox stories) means missing out on the complex, contradictory dynamics of capitalist enterprises; and second, that other kinds of enterprises (in which workers themselves make the decisions about how the surplus is appropriated and distributed) would do even more, on a wider scale, to transform the dynamics of the distribution of income and wealth in the U.S. economy.

It’s the difference between an individual gift and a gift economy. In the former, workers are forced to rely on the benevolence of their employer, to whom they feel beholden; in the latter, because they participate in appropriating the surplus they produce, workers actually have the means to regularly bestow gifts on themselves as a collectivity, on whatever bosses they may have chosen, and on the wider society with which they have a reciprocal relationship.

Now, that’s a gift economy worth celebrating.

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