Social Exchange - Peter Blau From Peter Blau, Exchange and Power in Social Life.New York: Wiley, 1964, pp. 88-97.* FOURSocial ExchangeThe moral type on the other hand is not based onstated terms, but the gift or other service is given as to a friend,although the giver expects to receive an equivalent or greaterreturn, as though it had not been a free gift but a loan; and as heends the relationship