In this classic work, Mauss argued that gifts are never "free". Rather, human history is full of examples that gifts give rise to reciprocal exchange. The famous question that drove his inquiry into the anthropology of the gift was: "What power resides in the object given that causes its recipient to pay it back?" (1990:3). The answer is simple: the gift is a "total prestation", imbued with "spiritual mechanisms", engaging the honour of both giver and receiver (the term "total prestation" or "total social fact" (fait social total) was coined by his student Maurice Leenhardt after Durkheim's social fact). Such transactions transcend the divisions between the spiritual and the material in a way that according to Mauss is almost "magical". The giver does not merely give an object but also part of himself, for the object is indissolubly tied to the giver: "the objects are never completely separated from the men who exchange them" (1990:31). Because of this bond between giver and gift, the act of giving creates a social bond with an obligation to reciprocate on part of the recipient. To not reciprocate means to lose honour and status, but the spiritual implications can be even worse: in Polynesia, failure to reciprocate means to lose mana, one's spiritual source of authority and wealth. Mauss distinguished between three obligations: giving - the necessary initial step for the creation and maintenance of social relationships; receiving, for to refuse to receive is to reject the social bond; and reciprocating in order to demonstrate one's own liberality, honour and wealth.

An important notion in Mauss' conceptualisation of gift exchange is what Gregory (1982, 1997) refers to as "inalienability". In a commodity economy there is a strong distinction between objects and persons through the notion of private property. Objects are sold, meaning that the ownership rights are fully transferred to the new owner. The object has thereby become "alienated" from its original owner. In a gift economy, however, the objects that are given are inalienated from the givers; they are "loaned rather than sold and ceded". It is the fact that the identity of the giver is invariably bound up with the object given that causes the gift to have a power which compels the recipient to reciprocate. Because gifts are inalienable they must be returned; the act of giving creates a gift-debt that has to be repaid. Gift exchange therefore leads to a mutual interdependence between giver and receiver. According to Mauss, the "free" gift that is not returned is a contradiction because it cannot create social ties. Following the Durkheimian quest for understanding social cohesion through the concept of solidarity, Mauss's argument is that solidarity is achieved through the social bonds created by gift exchange.