Economy
The main economic staple in the region is the palm tree, the oil of which is extracted and sold to external markets. Among the Ibibio, those of the highest rank in the Ekpo society, Amama, often control the majority of the community wealth. The Amama often appropriate hundreds of acres of palm tree for their own use and ensure with the profits they earn that their sons achieve comparable rank, effectively limiting access to economic gain for most members of the community. The Ekpo society requires that its initiates sponsor feasts for the town, which fosters the appearance of the redistribution of wealth by providing the poor with food and drink. In effect, this allows the disparity in wealth to be perpetuated in Ibibio society.
Read more about this topic: Ibibio People
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)