![]() ![]() ![]() Graeber re-examines the last five thousands of years of history starting from this new view of debt: from the Sumerian King who grants loans to the farmers in return for their obedience to the modern capitalist system which forces laborers into debt as a way of forcing them to serve the system. Money was created a way to more easily track something that pre-existed it: debt.ĭebt, in fact, is the basis for society and the primary vehicle through which power is exercised. Graeber, an anthropologist, provides convincing evidence that story is completely wrong. Everyone that’s taken an economics class has heard the story about how money was created: people used to barter with each other but it got really inefficient because what if I wanted to trade my shoes for bread, but the baker didn’t need any new shoes so money was created to form a medium of exchange. ![]()
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