What is Debt?

[pisston]

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

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.

Debt is money owed by one party, the borrower or debtor, to a second party, the lender or creditor. The borrower may be a sovereign state or country, local government, company, or an individual.

I completely agree with you, but one wants to say an amendment, and this is that debts are always very difficult to give or take. but nevertheless there are some procedures and actions when everyone willingly does what they would like.

[jhamz03]

Thanks for posting this excellent article, it was really interesting to read. When a company borrows money to be paid back at a future date with interest it is known as debt financing. To be simple debt is an amount of money borrowed by one party from another.

[thoerz18]

debt is a liability of a person or a business entity to a third party paid by way of surrendering assets or services within a certain period of time as a result of past transactions in accordance with a prescribed agreement.

[turagsoy123456]

Debt is when you borrow money that you do not have in order, usually, to fund some business or something that will make you more money in the long run than the interest you are paying on said debt. I do not really like the concept of debt because it essentially makes you a slave. You will have no choice but to work and become a minion for your lender who will sit back and collect profits on your work for doing nothing at all.

Debt is something to be paid in return of what you had used or borrowed. It is an obligation.  Failure to pay debts ruins your integrity as a person. It is just natural to borrow something from someone and pay it in return for as long as not in repitition nor forgetting to give it back. Always remember everything in this world needs moderation.

[Dragon5]

All I know about a debt- never be in debt! Avoid it at all costs, it is something that starts so easily and comes like a snowball, increasing in amount. Beware of being in debt) and especially with those super high interest rates which are offered by the banks.

[BitcoinTurk]

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

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.

Debt is the name given to the money that a person has taken to be repaid from a corporation or person. The article you find has beautiful content and is briefly mentioned. If you are wondering how the debtor system works, there are different explanations about this topic, but the easiest and simplest example is the working principle of banks. I do not want to pass without noting that there are interest, no interest, or clearing methods and debt types.

[warrior333]

Duty is the way to make a man a slave. This is the basis of the work of the entire banking system. That is why the government will hold the monopoly in the production of money. Cryptocurrency eliminates the possibility of lending. People clearly see that after you have borrowed you have no chance to pay their obligations.

[Arz26]

Debt is used by many corporations and individuals as a method of making large purchases that they could not afford under normal circumstances. Debt is way to practice on how to borrowing party permission to borrow money to have interest.

[etron]

really before the money was created, at that time only barter, but until now there is still a barter like in the area where I live. (fish vs rice) is still common in my area of ​​residence.

[Semosuchi Tesongrato]

Well, it seems to me that we are making useless complications: let say that we are in the jungle. I went hunting and I took two wild boars. My neighbour also went hunting but he didn't take anything. He and his family are hungry, and I have too much.
So, I give him part of my prey, with the condition that he will give back to me when he can, or - here is the trick - it will work for me until he will "pay" what he took. With a little more, because I did him a favour...

[Bonsaiav]

Debt is something borrowed by a person or business entity to a third party such as a bank, the creditor or the lender itself.
Debt is an important element in finance usually owned by companies (individuals) who have or have difficulty in getting around the financial problems.
Debt is not just categorized as cash only but can also in other forms. And in the meantime debt transaction can be executed  if both parties have agreed on a higher rate (deal) between the borrower and the lender itself.

[joebrook]

Thanks for posting this excellent article, it was really interesting to read. When a company borrows money to be paid back at a future date with interest it is known as debt financing. To be simple debt is an amount of money borrowed by one party from another.

I believe that this is the exact way that the Glazers were able to purchase Manchester United in the first place, they didn't have the money outright but they borrowed and bought and now they are using the club to payback the money they initially borrowed.

[gantez]

Debt is designed to ruin your life and not to help you, it can ruin your financial status and also your family. As long as you don’t need much the money don’t borrow, or else you will suffer in the long run.

  Sometimes people who borrow have no choice. I don't people desire to go borrowing but when circumstances is beyond their control, they fall for the temptation. Do you also know that 70% of people who borrow desire to pay back but are unable to meet up. Borrowing is not really devilish if you do it for investment. 

[orkoso]

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

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.

I think that you can use debt to make better profits but is like a bet, you can double the benefit but you also double the risk. I would rather stay out of it frankly.

[Invest-or]

I know a bit about debt because I had a hard time paying one long time ago. Nothing really dangerous happened, but I think I will stay out of debt for the rest of my life, as I like to sleep well.

[Magister Magus]

Very interesting article. We are in a society based on debt. It seems that everyone is in debt. People are in debt. Banks are in debt. Government are in debt.
I'm not talking about third world countries, I'm talking about America, Germany, China...
They are all in debt, their public debt is bigger than their gross domestic product.
So, this pose an interesting question:

if everyone is in debt, to whom are we debtors?

Think carefully...

[jinxing]

Debt is something that must be paid either money or whatever. What is clear debt is a duty that must be met. Which begins with the promise to pay or fulfill it even in the heart.

[PrettyFace2018]

Debt is a duty or obligation to pay money, deliver goods, or render service under an express or implied agreement. One who owes, is a debtor or debitor; one to whom it is owed, is a debtee, creditor, or lender. Debt can be represented by a loan note, bond, mortgage or other form stating repayment terms and, if applicable, interest requirements.

[jesh2206]

Debt financing is an expensive way of raising funds, because the company has to involve an investment banker who will structure big loans in a systematic way. It is a viable option when interest costs are low and the returns are better.

[metenjean]

Why people quoting and answering some topic from 6 years past? Its created 2011 and i dont even think the OP still active until now, is this a new way to bringing up old topic to live or just spamming?