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:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
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