A potlatch is a gift-giving feast and an economic system in which status in a community comes from how much one contributes, not how much one owns. It was a primary economic institution among the Indigenous peoples of the Pacific Northwest Coast. The word comes from Chinook Jargon and means "to give away" or "a gift" — to make a ceremonial gift in a potlatch.
Reflections
"Peer-to-peer networks bear a striking resemblance to the gift economies of ancient times, as well as to the characteristics of a demurrage-based economy. As in a potlatch society, status in such a community comes from how much one contributes, not how much one owns. Resources are shared generally, not hoarded, and the exchange of goods occurs on a gift basis." ~ 📝Charles Eisenstein, 📝The Ascent of Humanity, 📝Work and Art United