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I found this an interesting interview about the history of money and debt.
Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
Check it out.
What is Debt? – An Interview with Economic Anthropologist David Graeber
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David Graeber currently holds the position of Reader in Social Anthropology at Goldsmiths University London. Prior to this he was an associate professor of anthropology at Yale University. He is the author of ‘Debt: The First 5,000 Years’ which is available from Amazon.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
Interview conducted by Philip Pilkington, a journalist and writer based in Dublin, Ireland.
Philip Pilkington: Let’s begin. Most economists claim that money was invented to replace the barter system. But you’ve found something quite different, am I correct?
David Graeber: Yes there’s a standard story we’re all taught, a ‘once upon a time’ — it’s a fairy tale.
In my thought, debt is something that you have to pay. With how much the amount you borrow is also the amount of your debt which is compulsory for you to pay.
For me debt is acquiring something by means of borrowing with terms and conditions. At business it is an obligation to pay, if not sunctions and penalties will be dealt according of what is being agreed by both parties.
