Based on memory these are my main takeaways:
- Debunking with empiricall evidence the presumption held by most economists, that money evolved out of barter. Barter is for strangers and enemies. In communities/tribes credit/ledger-based systems was the norm.
- The strong role debt played in the brutality of colonizing America, and facilitating the slave trade among tribal leaders in Africa.
Adam Smith`s “debt” to Islamic thinkers
- The 1971 and onwards explanation of the transition to the petro-dollar system.
I find it strange that an anarchist leaning thinker like Graeber subscribes to the idea that only state (or sovereign) money can work in the long run. As I remember, he claims that attempts at private money always fails. At the same time he describes how coins (and credit systems like the tally sticks) continued to exist for hundreds of years after the empire who coined them ceased to exist.
Nevertheless, one of the most eye-opening books I have read. All books and thinkers should be a starting point for your own thinking, not a source of truth to subscribe to.
If someone finds the length of the book a bit daunting, I can recommend an audio short version Graeber made for the BBC. It`s also easy to get lost in all the historical examples in the book, so this mini-series gives you the overall picture, and you can choose to dig deeper on what you find interesting.
https://www.bbc.co.uk/sounds/series/b054zdp6
BlindOwl
npub1pg…8ueyc
2023-03-16 08:26:08
in reply to nevent1q…yeqs
Author Public Key
npub1pgkljpdv6k6muvs54pxt948krv80knvm7ptnn4g3zgjj2py4j6yq38ueycPublished at
2023-03-16 08:26:08Event JSON
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"content": "Based on memory these are my main takeaways:\n\n- Debunking with empiricall evidence the presumption held by most economists, that money evolved out of barter. Barter is for strangers and enemies. In communities/tribes credit/ledger-based systems was the norm.\n- The strong role debt played in the brutality of colonizing America, and facilitating the slave trade among tribal leaders in Africa.\nAdam Smith`s “debt” to Islamic thinkers\n- The 1971 and onwards explanation of the transition to the petro-dollar system.\n\nI find it strange that an anarchist leaning thinker like Graeber subscribes to the idea that only state (or sovereign) money can work in the long run. As I remember, he claims that attempts at private money always fails. At the same time he describes how coins (and credit systems like the tally sticks) continued to exist for hundreds of years after the empire who coined them ceased to exist.\n\nNevertheless, one of the most eye-opening books I have read. All books and thinkers should be a starting point for your own thinking, not a source of truth to subscribe to.\n\nIf someone finds the length of the book a bit daunting, I can recommend an audio short version Graeber made for the BBC. It`s also easy to get lost in all the historical examples in the book, so this mini-series gives you the overall picture, and you can choose to dig deeper on what you find interesting.\n\nhttps://www.bbc.co.uk/sounds/series/b054zdp6\n\n ",
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