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Debt - Updated and Expanded: The First 5,000 Years

Debt - Updated and Expanded: The First 5,000 Years

"You need to read this. If you're interested in anything—money, religion, history, guilt—it will blow your mind. If you have ever wondered about anything—socks, politics, logical syllogism—you should read it. Do you follow the news? Do you live with your extended family? It doesn't matter. Please just read this book."

Greg G.

See all my recommendations »

Author David Graeber
Publisher Melville House
Publication Date 2014-10-28
Section New Titles - Paperback / Economics / All Staff Suggestions / Nonfiction Suggestions / Greg G.
Type New
Format Paperback
ISBN 9781612194196

Now in paperback: David Graeber’s “fresh . . . fascinating . . . thought-provoking . . . and exceedingly timely” (Financial Times) history of debt
 
Here anthropologist David Graeber presents a stunning reversal of conventional wisdom: he shows that before there was money, there was debt. For more than 5,000 years, since the beginnings of the first agrarian empires, humans have used elaborate credit systems to buy and sell goods—that is, long before the invention of coins or cash. It is in this era, Graeber argues, that we also first encounter a society divided into debtors and creditors.

Graeber shows that arguments about debt and debt forgiveness have been at the center of political debates from Italy to China, as well as sparking innumerable insurrections. He also brilliantly demonstrates that the language of the ancient works of law and religion (words like “guilt,” “sin,” and “redemption”) derive in large part from ancient debates about debt, and shape even our most basic ideas of right and wrong. We are still fighting these battles today without knowing it.

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