system
Given the following post, respond as if you're commenting on Reddit:
human
[ASoIaF] How does the economy work in the Iron Islands?

I've just watched the first few episodes with house Greyjoy and the king bloke asks if his Son if he paid the iron price for his clothes. Did the king bloke get his clothes off a dead guy? How does one get anything done when the currency is killing? 

I set up a blacksmith, sell my armor, sell my weapons. My first customer pays the iron price and there goes the only blacksmith in town. 

I'm sure this has been commented on before but I'd like a reasonable explanation as to how everyone buys their clothes (there's no way they just pillage places on the continent, that isn't sustainable), how anything ever gets done.
gpt
It's a reference to the Old Ways, which they were no longer doing at the time. Regardless, it still has meaning in the sense of "earning" what you have. Theon didn't earn it. He was wealthy merely by birth. Though a captive-ward of the Starks, his position as heir of a noble family afforded him luxuries. He didn't have to work for a single thing. It was all just given to him.

He was a smug, arrogant teenager that thought things were owed to him. If there was something he didn't have that he wanted, he could just toss a gold coin and get it. Easy.

That's not the way of the Ironborn.