This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: "Traditional economy" – news · newspapers · books · scholar · JSTOR (August 2018) (Learn how and when to remove this message)
The topic of this article may not meet Wikipedia's general notability guideline. Please help to demonstrate the notability of the topic by citing reliable secondary sources that are independent of the topic and provide significant coverage of it beyond a mere trivial mention. If notability cannot be shown, the article is likely to be merged, redirected, or deleted.Find sources: "Traditional economy" – news · newspapers · books · scholar · JSTOR (January 2024) (Learn how and when to remove this message)
A Laotian farmer plowing with a buffalo.

A traditional economy is a loosely-defined term sometimes used for older economic systems in economics and anthropology. It may imply any of that an economy is not deeply connected to wider regional trade networks; that many or most members engage in subsistence agriculture, possibly being a subsistence economy; that barter is used to a greater frequency than in developed economies; that there is little governmental oversight of the economy, that at least some taxes might be in the form of goods or corvée labor rather than money; or some combination of the above. Aspects of traditional economies often carry forward into the "modern" economies they become, though; it is not uncommon for a traditional economy that heavily centers the role of tribes and families in distributing wealth to continue keeping a large role for them even after connections to outside trade are formed, at least if the original elite manage to keep their status rather than being displaced by an invasion or revolution or the like.[1][2]

See also


  1. ^ Alexander, David (1976). "Newfoundland's Traditional Economy and Development to 1934". Acadiensis. 5 (2): 56–78. JSTOR 30302530.
  2. ^ Rosser, Marina V.; Barkley Rosser, J.; Kramer, Kirby L. (1999). "The new traditional economy". International Journal of Social Economics. 26 (6): 763–778. doi:10.1108/03068299910227318. ISSN 0306-8293.