JayLeClay on Nostr: Q: When did debt become a positive number? A: A long time ago, with the advent of ...
Q: When did debt become a positive number?
A: A long time ago, with the advent of double entry bookkeeping. One party’s debt is another’s asset. The fact that this number is so high demonstrates how important credit is to the financial system. For a deeper explanation, read Graeber’s “Debt, the first 5,000 years.”
Published at
2024-10-02 14:44:21Event JSON
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