As a general conclusion, it can be stated that the production and distribution of material goods was embedded in social relations of a noneconomic ki… - Karl Polanyi

The economic system is, in effect, a mere function of social organization.

The habit of looking at the last ten thousand years as well as at the array of early societies as a mere prelude to the true history of our civilization which started approximately with the publication of the Wealth of Nations in 1776, is, to say the least, out of date.

It is usually not realized that random acts of barter would not, by themselves, produce prices unless a market pattern were in existence that made the bartering intent of the persons effective. In this sense, barter is very much like reciprocity and redistribution. The principle of behavior, in order to become effective, requires the presence of some institutional structure. The market pattern is never traceable to the mere desire of individuals to "truck, barter, and exchange." Its origins come from other directions, as we shall see.