Gift economy existed well before the economy to the market.

The gift economy gradually disappeared as societies became the relationships become more complex. Some gift economies survived until modern historical times, particularly in pre-industrial societies but no modern-day society is structured as a gift economy. Aspects of gift societies still exist in the modern world, particularly in religious gift giving and in the information technology community. Gift economy was interest free and there was no profit motive involved in the exchange transactions. The people use to exchange goods and services and receive services in return. There was no profit involved in the same. However, slowly with the increase in trade, economy, development and other factors, people entered in to economy market. Wherein they started earning profits on the exchange of goods and services. Many societies have strong prohibitions against turning gifts into trade or capital goods. In all these we are gaining is profit, increase in transaction and more products. However in this shift, we have lost the midas touch of happiness, we use to get while exchanging products with each other without any intention of profits.